Бакалавриат 2025/2026

Основы макроэкономики

Статус: Курс обязательный (Международная программа по экономике и финансам)

Кто читает: Международный институт экономики и финансов

Где читается: Международный институт экономики и финансов

Когда читается: 1-й курс, 2 семестр

Охват аудитории: для своего кампуса

Преподаватели: Гуленков Илья Васильевич, Дементьев Андрей Викторович

Язык: английский

Кредиты: 6

Контактные часы: 92

Course Syllabus

Abstract

This introductory macroeconomics course is delivered for the first-year ICEF students in the Spring semester. It is taught in English and designed to develop students’ critical thinking and macroeconomic reasoning. Global inequality and sources of prosperity are discussed through the lens of Growth Dynamics Curve. Within country inequality and labour market equilibrium are derived from the WS-PS model. The short-run effects of fiscal and redistribution policies are studied using the Keynesian Cross model. Challenges of contemporary central banks, including inflation targeting and interest rate decisions, are largely based on the Bank of Russia monetary policy guidelines. Phillips curve links inflation and unemployment and highlight the role of inflationary expectation. Exchange rate regimes and global capital mobility are framed by the Uncovered Interest Parity condition. Finally, Price Dynamics Curve helps explain financial bubbles and other reasons for the past and maybe future economic crises. Prerequisites: This course requires a good command of English, working knowledge of multivariable calculus and graphing skills. A decent level of AI literacy will also support course preparedness and success.

Learning Objectives

• The purpose of the course is to develop the model-based way of ‘aggregate thinking’ and make students ready to apply relevant macroeconomic tools in their further studies and professional career. Specifically, the course aims to:
• introduce students to the main factors of aggregate demand fluctuations in a mixed open economy
• explain the concepts of equilibrium output, unemployment and inflation using both general language and analytical tools
• develop students ability to justify the implications of macroeconomic policies in the team project
• enable students to participate in team debates on macroeconomic and political matters
• The course develops students’ soft skills, namely the ability to work in teams and organise their activities in small groups. By the end of the course students are expected to be able to:
• find, evaluate and use information from various sources in order to systematically solve macroeconomic problems
• analyse and interpret the data of domestic and foreign statistics on socio-economic processes and phenomena, to identify trends in changing of socio-economic indicators
• critically evaluate modern economic trends, provide competent reasoning to lead well-grounded discussions
• present the results of analytical and research activities both orally and in writing

Expected Learning Outcomes

• At the end of this course and having completed the essential reading and learning activities, successful students are expected to be able to:
• define the basic macroeconomic terms and concepts that capture stylised facts of country-level short-run fluctuations and long-run dynamics
• formulate real world phenomena in the language of macroeconomic modelling using graphic analysis and simple algebra
• apply the WS-PS-PC-AE, UIP, and other work-horse models to solve standard macroeconomic problems
• assess the potential and limitations of the models and extend them to evaluate macroeconomic policies in Russia and abroad
• illustrate the relevance of the macroeconomic models both in written and oral communications through applying good group working practices
• evaluate AI-generated answers for accuracy, relevance, and alignment with macroeconomic contexts, refining prompts iteratively to improve results

Course Contents

• Introduction to aggregate thinking
• The supply side of the macroeconomy
• The demand side of the macroeconomy
• Inflation
• Macroeconomic policy
• Financial sector
• Open economy
• Crises

Assessment Elements

• Quiz
  Each week, students take part in an online Quiz during the lecture or at home, consisting of multiple-choice questions on the current topic.
• Group work in class
  Individualised grades for productive group work
• Home Assignments
  Weekly home assignments are designed as individual take-home open-book assessment that encourages students to use wise prompting when complementing their analytical skills with LLMs’ functionality.
• Mid-term test
  Students take an unseen closed-book written mid-term test in the end of the 3rd module. Examination papers may legitimately include questions on any topic covered in the 3rd module. ICEF examiners look for clear and logical arguments, which explain the material and answer the precise question asked. Due to time-pressure, putting in irrelevant material makes for a less clear answer.
• Team project
  Individualised team grades
• Final exam
  Students take an unseen closed-book written examination in the 4th module. ICEF examiners are free to set questions on any aspect of the syllabus. They will vary the topics and questions from year to year and may well set questions that have not appeared in past papers. In order to get a passing grade for the course, the student must sit (all parts) of the examination.

Interim Assessment

• 2025/2026 2nd semester
  0.4 * Final exam + 0.15 * Group work in class + 0.05 * Home Assignments + 0.2 * Mid-term test + 0.05 * Quiz + 0.15 * Team project

Bibliography

Recommended Core Bibliography

• Carlin, W., & Soskice, D. (2014). Macroeconomics: Institutions, Instability, and the Financial System. Oxford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.oxp.obooks.9780199655793

Recommended Additional Bibliography

• Principles of macroeconomics, Case K.E., Fair R.C., 1996

Authors

• DEMENTEV ANDREY VIKTOROVICH