Why are economies sometimes hit by recessions, i.e., by periods of declining output and rising unemployment? Why do some countries regularly have unemployment rates of about 20%, while others manage to maintain full employment for most of the time? Why should we worry about deflation? And: what can economic policy do to fight negative output growth, unemployment, and deflation? To address all these (and many more) questions in a systematic and transparent way, Macroeconomics 1 will develop—following a step-by-step approach—a coherent and highly tractable theoretical frame-work, the so-called IS-LM-PC model. Towards the end of the course, we will extend this model to understand the macroeconomic implications of openness. In doing so, we will get to know concepts like the real exchange rate and the current account.

To attend the course / exercise, registration via e-learning platform OLAT is required. Registration is possible from 7 February to 4 March 2022. The students themselves are responsible for checking the creditability of the course to their course of study.

Direct link to OLAT course:

https://lms.uzh.ch/url/RepositoryEntry/17168236594