Business cycle and economic growth measurement 4.17.E.650

1. Introduction. Basic concepts of exogenous and endogenous theories of the business cycle.
2. Economic growth and its instability. Economic growth factors and causes of fluctuations in economic activity.
3. Data: the value in economics.
4. Keynes Theory. The principle of multiplier-acceleration. Cassel's overinvestment theory. Monetary theory. The theory of rational expectations. 5. The theory of real business cycles.
6. Instruments of state influence on the business cycle. Theoretical foundations of the stabilization policy.
7. Business cycle morphology. The quantitative nature of business cycle fluctuations. Features and types of business cycles. Cycles division concepts.
8. Methods of research and forecasting the economic situation. Indicator methods. Expert methods. Econometric models.

Field of study

Economics

Supplementary literature

1. Fidrmuc, J., & Korhonen, I. (2006). Meta-analysis of the business cycle correlation between the euro area and the CEECs. Journal of comparative Economics, 34(3), 518-537. 2. Hysteresis and Business Cycles, WP/20/73, May 2020. 3. Samuelson P.A., William Nordhaus D., Ekonomics, 19th ed. Rebis, Poznań 2021.

Student workload

(in Polish) Bilans nakładu pracy przeciętnego studenta - udział w wykładach: 15 godz. - przygotowanie do wykładu: 15 godz. - studia literatury przedmiotu: 15 godz. - przygotowanie projektu indywidualnego: 15 godz. - konsultacje: 15 godz. Łączny nakład pracy studenta 75 godz.

Study level

2nd degree studies

Type of course

obligatory courses

The semester in which the subject is carried out

III

Mode

(in Polish) Realizowany w sali

Requirements

Credited subjects: Macroeconomics, Statistics, Econometrics

Prerequisites

Understanding factors of the economic growth and factors of the fluctuations in economic activity. Learning methods of describing and analyzing the economic growth and fluctuations with the use of selected quantitative methods.

Course coordinators

Anna Jasińska-Biliczak

Assessment criteria

F1 – preparation for classes assessed on the basis of completing the introductory test and oral answer (50%)
F2 - execution and presentation of an individual project (50%)
P- Ocena podsumowująca:
Weighted average of forming scores.

Bibliography

1. Chari, V. V., Christiano, L. J., & Kehoe, P. J. (2021). 12 Policy Analysis in Business Cycle Models. In Frontiers of Business Cycle Research (pp. 357-392). Princeton University Press.
2. James H. Stock, Mark W. Watson: Business Cycles, Indicators, and Forecasting, University of Chicago Press, 2008
3. Razzak, W. A. (2001). Business cycle asymmetries: International evidence. Review of Economic Dynamics, 4(1), 230-243.
4. Stock, J. H., & Watson, M. W. (2002). Has the business cycle changed and why?. NBER macroeconomics annual, 17, 159-218.
5. Cho, J. O., Cooley, T. F., & Kim, H. S. E. (2015). Business cycle uncertainty and economic welfare. Review of Economic Dynamics, 18(2), 185-200.
6. Victor Zarnowitz: Business Cycles: Theory, History, Indicators, and Forecasting, University of Chicago Press, 2007

Additional information

Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system:

Description of 4.17.E.650 in USOSweb