The objective of this course is to introduce core concepts and theories
of modern macroeconomic analysis including their development within the
economic and social context of the past centuries.
Specific learning outcomes upon completion of this curricular item are:
• Understanding of macroeconomic theories about growth,
inequality and unemployment within their historical contexts
• A basic knowledge of core macroeconomic concepts • Familiarity with
recent empirical macroeconomic work on growth,
inequality and unemployment.
The course starts with discussing the historical development of
macroeconomic theories about growth, inequality and unemployment.
Next the course proceeds with the introduction of core macroeconomic
concepts and theories including illustrations from recent empirical
macroeconomic work on growth, inequality and unemployment:
- Circular flows and national accounts- Aggregate incomes and
- Growth accounting: labor productivity, technological progress,
human capital, Solow model;
- Institutions and economic development;
- Unemployment: measurement, types, costs of unemployment, wage
Lectures and tutorials
Grade is average of problem sets (2/5) and written examination (3/5),
with written exam grade of at least 5.0
Acemoglu, Daron, David Laibson and John A. List, 2016, Economics,
Harlow, Essex, Pearson Education Ltd. ISBN 13: 978-1-292-07920-2, incl.
access code MYECONLAB.
Basic knowledge of math and statistics, as provided in the academic core
of any academic program at the Vrije Universiteit Amsterdam or