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February 14 - 18 - no lecture, no seminars. The first lecture will take place on February 21.

Holiday [H]; Rector's day-off [R]; Dean's day-off (D) in February - May 2021.

1. Friday, April 15, 2022 [H]

2. Monday, April 18, 2022 [H]

3. Friday, April 29, 2022 [D]

4. Wednesday, May 11, 2022 [R]

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Week 1 and 2:

Consumption - Keynesian consumption function; Fisher's model; Life cycle hypothesis; Permanent income hypothesis; Random walk;
Investment - Business fixed investment; Residential investment; Inventory investment.
Chapters 16 and 17 from Mankiw (2013), 17 and 18 from Mankiw (2010); 16 and 17 from Mankiw (2003)

Week 3:
Introduction to economic fluctuations - Aggregate demand and aggregate supply model;
Chapters 10 from Mankiw (2013), Chapters 9 and 10 from Mankiw (2003, 2010)

Week 4 and 5:
Theory of aggregate demand; IS-LM model; Aggregate demand II - Explaining fluctuations with IS-LM model; Changes in fiscal policy; Keynesian multiplier and the crowding out effect; Monetary policy in IS-LM model; IS-LM as a theory of aggregate demand.
Chapters 11 and 12 from Mankiw (2013), Chapter 11 from Mankiw (2003, 2010)

Week 6:
Aggregate demand in an open economy - The Mundell-Fleming model (IS * -LM * version); Efficiency of economic policies under floating and fixed exchange rate regimes;

Chapters 13 from Mankiw (2013), Chapter 11 from Mankiw (2003, 2010)

Week 7: mid-term

Week 8:
Aggregate Supply - Sticky wage model; Lucas model; Sticky price model: Phillips curve.
Chapters 14 from Mankiw (2013), Chapters 12 and 13 from Mankiw (2003, 2010)

Week 9:
A dynamic model of aggregate demand and aggregate supply
Chapters 15 from Mankiw (2013), Chapter 14 from Mankiw (2010); [partly covered in Chapter 19 from Mankiw (2003)]

Week 10:
Stabilization policy.
Chapters 18 from Mankiw (2013), Chapter 15 from Mankiw (2010); Chapter 14 from Mankiw (2003); lecture slides

Week 11:
Government debt. Ricardian Equivalence. Effect of government debt and deficits on growth.
Chapters 19 from Mankiw (2013), Chapter 16 from Mankiw (2010); reading slides

Lectures: Monday 17:00-18:20 [Room 109]

Seminars: Groups 1 & 2

[Group 1] Tuesday 17:00-18:20 [Room 109]

[Group 2] Wednesday 08:00-09:20 [Room 206]

Lecture 1 - February 21

Seminar 1 - February 22 [Group 1]

Seminar 1 - February 23 [Group 2]

Lecture 2 - February 28

Seminar 2 - March 1 [Group 1]

Seminar 2 - March 2 [Group 2]

Lecture 3 - March 7

Seminar 3 - March 8 [Group 1]

Seminar 3 - March 9 [Group 2]

Lecture 4 - March 14

Seminar 4 - March 15 [Group 1]

Seminar 4 - March 16 [Group 2]

Lecture 5 - March 21

Seminar 5 - March 22 [Group 1]

Seminar 5 - March 23 [Group 2]

Lecture 6 - March 28

Seminar 6 - March 29 [Group 1]

Seminar 6 - March 30 [Group 2]

Lecture 7 - April 4 [MIDTERM]

Seminar 7 - April 5 [Group 1]

Seminar 7 - April 6 [Group 2]

Lecture 8 - April 11

Seminar 8 - April 12 [Group 1]

Seminar 8 - April 13 [Group 2]

Lecture 9 - April 18 No Lecture [H]

Seminar 9 - April 19 [Group 1]

Seminar 9 - April 20 [Group 2]

Lecture 9 - April 25

Seminar 10 - April 26 [Group 1]

Seminar 10 - April 27 [Group 2]

Lecture 10 - May 2

Seminar 11 - May 3 [Group 1]

Seminar 11 - May 4 [Group 2]

Lecture 11 - May 9

Seminar 11 - May 10 [Group 1]

Seminar 11 - May 11 No Seminar [R]