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This lecture was originally taught at University of Greenwitch, Winter Semester 2019/20
Macroeconomics in Context: A European Perspective lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. With a clear presentation of economic theory throughout, this latest addition to the bestselling "In Context" set of textbooks is written with a specific focus on European data, institutions, and historical events, offering engaging treatment of high-interest topics, including sustainability, Brexit, the euro crisis, and rising inequality. Policy issues are presented in context (historical, institutional, social, political, and ethical), and always with reference to human well-being.
This is an introductory level core course in macroeconomics for those expecting to take further courses in economics. It provides a theoretical and applied approach of introductory macroeconomics, with an international perspective and applications to account for the growing importance of the global economy and the rising openness of economies. The course covers critical issues such as macroeconomic stabilization, distributional equity, environmental considerations, and the adequacy of living standards and, while laying down the foundations of the core principles of economic theory and analysis, it contextualises the relevance, applicability and limitations of theories providing a pluralistic view from the macroeconomic perspectives. The course offers abundance of current real-world examples and applications to make theoretical exposition close to experience. Topics will be treated from a theoretical, mathematical and applied standpoint. The contextualisation will recognise the centrality of three current compelling goals of macroeconomics: (1) improvements in living standards, (2) stability and (3) financial, social, and ecological sustainability, relating them to globalization, inequality, the Great Recession and its aftermath. The ultimate objectives are to bridge theoretical and factual knowledge of current economic issues and to gain an understanding of real world events, of macroeconomic policies and of their effects on business and organizations.
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