Kies de Nederlandse taal
Course module: EC2MAP
Macroeconomics for premasters
Course infoSchedule
Course codeEC2MAP
ECTS Credits7.5
Category / Level2 (Bachelor Elaborating)
Course typeCourse
Language of instructionEnglish
Offered byFaculty of Law, Economics and Governance; Undergraduateschool REBO; Bachelor in Economics and Business Economics;
Contact persondrs. F.H. van der Salm
Telephone+31 30 2537942
Contactperson for the course
drs. F.H. van der Salm
Other courses by this lecturer
Teaching period
2  (21/10/2019 to 02/02/2020)
Teaching period in which the course begins
Time slotD: WED-afternoon, Friday
Study mode
RemarkCannot be followed by students Economics and Business Economics (U.S.E.). Cannot be combined with ECB1MACR and EC1PMA.
Enrolment periodfrom 03/06/2019 up to and including 30/06/2019
Course application processOsiris
Enrolling through OSIRISYes
Enrolment open to students taking subsidiary coursesNo
Post-registration openfrom 21/10/2019 up to and including 22/10/2019
Waiting listNo
Learning objectives 
At the end of the course the student is able to:
  • Think in terms of abstract models when discussing questions about the national and international economy;
  • Describe and explain the interactions between the goods, money and labour market, the functioning of the economy in the short and medium run, the relations between employment, inflation and output and the options for fiscal and monetary policy;
  • Describe and explain the factors of growth and the way in which they shape the long-run prospects of the economy;
  • Take a well-reasoned position regarding macroeconomic problems in general and in matters relating to economic policy in particular;
  • Be able to do a research in the macroeconomic condition of a specific country, apply theory and models, and perform a quantitative analysis on the country data.
Cannot be followed by students Economics and Business Economics (U.S.E.). Cannot be combined with ECB1MACR and EC1PMA.

Macroeconomics studies the economy at the national level. In the first week a tour of main macroeconomic issues in three areas (Europe, USA, Asia) sets the stage for the discussion of the major macroeconomic concepts like aggregate demand and supply, nominal and real GDP, inflation, economic growth, unemployment, monetary policy and interest rates. To understand the complex interactions among these variables in the short, medium and long run macroeconomists use models. A model is an abstraction, a mathematical representation of reality that focuses on the aspects under investigation, while ignoring or rather postponing the study of possibly very relevant and interesting real world complications. Macroeconomics, by the fact that it studies large and complex systems, sometimes takes the art of abstraction to its extreme. Still the models capture the main mechanisms and can be confronted with parts of reality. That is the principle of macroeconomic research and on that principle this course is built.
In the rest of the course we take the European perspective. This implies we must deal with the complexities of interconnected, open economies, exchange rate determination and the alternative adjustment mechanisms to balance of payments imbalances that are required in a monetary union. All such issues require a sound understanding of international macroeconomics. 

  • Lectures and tutorials; during the lectures the text book chapters and the additional literature will be presented and discussed. During the tutorial sessions we will in depth discuss the material and students will be able to take the opportunity to present their questions.
  • Country report: students prepare a country report, based on the theory and models presented in theory and their quantitative and qualitative research for a specific country. This is group work.
Effort requirements 
Active participation in at least 80% of the tutorials and project sessions.

Assessment method
  • Midterm exam (25% of the final grade)
  • Final exam (60% of the final grade)
  • Country report (15% of the final grade)
In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN number. Separate or spare codes are usually not available.
Entry requirements
You must meet the following requirements
  • Enrolled for a degree programme of faculty Faculty of Law, Economics and Governance
Prerequisite knowledge
Students are expected to have good command of secondary school calculus.
Required materials
Recommended materials
Blanchard, Amighini and Giavazzi (2017). Macroeconomics: A European Perspective, Third edition. Pearson Education Limited
Course manual: Principles of Macroeconomics 2019-2020 (Blackboard)
Referenced articles from varied sources (access will be provided by course coordinator on Blackboard)
Assignment Country Report (Blackboard)
Weekly tutorial assignments (Blackboard).
Instructional formats


Test weight25
Minimum grade1

Test weight60
Minimum grade1

Country report
Test weight15
Minimum grade1

Kies de Nederlandse taal