Wirtschaftswissenschaftliche Fakultät


Course Details

Prof. Heer

Macroeconomics (GBM only)

Lecturer: Prof. Dr. Burkhard Heer
Type: Lecture
Exam: Written exam
Term: Summer
Level: Bachelor
Limitation: An application to attend is necessary.

Chapters 1 through 3 focus on the short run (1-2 years), which is characterized by fixed prices, and discuss the equilibrium in the goods and financial markets. As its main result, they derive the basic macroeconomic model used to study short-run movements in output, interest rates, and employment, the IS-LM model. Chapters 4 through 7 consider the medium run where prices are flexible (1-4 years). Chapter 4 studies the equilibrium in the labor market and introduces the notion of the natural rate of unemployment. Chapter 5 through 7 develop a model based on aggregate demand and aggregate supply, the AS-AD model, and show how this model can be used to understand movements in activity and movements in inflation, both in the short and medium run. Chapters 8 through 11 examine the long run (> 4 years). Chapter 8 describes the empirical facts of output growth across countries. Chapters 9 and 10 develop a model of growth and describe how capital accumulation and technological progress determine growth. Chapter 11 focuses on the determinants of technological progress.

For further information or application procedure please check the module manual and the website of the chair.