GBPGBP (Global Business Program)

This course provides students with an overview of macroeconomic issues: economic growth, unemployment, inflation, interest rates and exchange rates. Topics also include policy issues such as government expenditures and taxation and monetary policy.

Macroeconomics is a necessary and useful tool to deeply understand the economic issues and policies. The goal of this course is to acquire basic knowledge of macroeconomics and to understand how to use the knowledge of macroeconomics for resolving challenges in business.

This course is strongly related to the "DP1-3", "DP2-1" and "DP2-2" diploma policies and fairly related to the "DP3", "DP4" and "DP5" policies.

英語 / English

The lectures is based on slides and "Mindtap," an e-learning platform by Cengage Learning. Also, in the class, recent economic issues in newspapers, magazines, etc. are introduced to learn how you can use macroeconomics for dealing with real economic and business issues. Feedback on class assignments will be given in the class.

あり / Yes

なし / No

授業形態/methods of teaching：対面/face to face

※各回の授業形態は予定です。教員の指示に従ってください。

Class 1[対面/face to face]：Introduction

This lecture provides several key points for using economics to resolve real economic issues and explains the purpose of studying macroeconomics.

Class 2[対面/face to face]：A brief introduction for microeconomics

This lecture covers the knowledge of microeconomics for studying macroeconomics, particularly the price mechanism to balance between supply and demand.

Class 3[対面/face to face]：Macroeconomic data (1): GDP

This lecture provides the concept of GDP and its components and explains why it is an important measure to assess economic activity.

Class 4[対面/face to face]：Macroeconomic data (2): inflation and interest rates

This lecture provides the definition of inflation and explains how inflation is related to other economic variables including interest rates.

Class 5[対面/face to face]：Economic growth

This lecture explains why economic growth is important for everyone’s economic activity and what encourages long-term economic growth (education, population growth, etc.).

Class 6[対面/face to face]：Financial system

This lecture covers the roles of the financial system (banks, stock markets, etc.) for economic activity and explains the causes and consequences of financial crises.

Class 7[対面/face to face]：Basics tools of finance

This lecture provides basic tools of finance, which are essential tools for understanding developments in financial markets.

Class 8[対面/face to face]：Labor market

This lecture covers labor market issues including unemployment rates and wages and explains the effects of government labor market policies.

Class 9[対面/face to face]：Roles of the central bank

This lecture explains the role of central banks (i.e., the Bank of Japan in Japan and FRB in the U.S.) such as issuing currencies and conducting monetary policy.

Class 10[対面/face to face]：Inflation

This lecture explains how inflation (i.e., changes in price levels) is determined and how it affects macroeconomic activity.

Class 11[対面/face to face]：Business cycle

This lecture introduces the AS-AD analysis as a tool to understand short-term economic dynamics and explains how we can use it for economic analyses.

Class 12[対面/face to face]：Fiscal and monetary policies

This lecture covers fiscal and monetary policies by the government and the central bank and describes their effects on economic activity and inflation.

Class 13[対面/face to face]：Trade-off between inflation and economic activity

This lecture explains the trade-off between inflation and economic activity and how central banks conduct monetary policy under the trade-off.

Class 14[対面/face to face]：Trade and exchange rates

This lecture covers a recent trend in international trade across countries and explains its relationship with exchange rates.

Students are expected to briefly read the corresponding chapter of the textbook before each class. Also, after the class, students are expected to review what they learned in the class and read articles in newspapers and magazines assigned in the class. Preparatory study and review time for this class are 2 hours each.

N. G. Mankiw (2021) Principles of Economics (9th Edition), Cengage Learning. (Students electrically access the textbook via "Mindtap")

Other teaching materials including articles in newspapers and magazines will be provided in the class.

The grades are based on (1) the final exam (70%), (2) the assignments (30%). The students can discuss with other classmates and refer to textbooks when working on the homework, but all students should individually write the answers with their own words.

N.A. (New lecturer this year)

All students must purchase Mindtap, a computer-based e-learning platform by Cengage, to access the assignments and the textbook (Mindtap costs around ￥5,600). Students who bought Mindtap for "Principles of Microeconomics" do not need to buy it again.

None

Principles of Microeconomics

Introduction to Japanese Economy