GBPGBP (Global Business Program)

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

Macroeconomics is a necessary and helpful tool for understanding 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 to resolve 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 are based on slides and "MyLab," an e-learning platform by Pearson. Also, in the class, recent economic issues in newspapers, magazines, etc., are introduced to learn how to use macroeconomics to deal with real economic and business problems. 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 to Microeconomics

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

Class 3[対面/face to face]：The Wealth of Nations

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

Class 4[対面/face to face]：Aggregate Incomes

This lecture focuses on very large differences across countries in income and explains that technology and the efficiency of production are key to accounting for the cross-country differences.

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]：Why Isn't the Whole World Developed?

This lecture asks: What has prevented poor countries from catching up to the level of prosperity of developed countries? We examine various factors for economic development.

Class 7[対面/face to face]：Employment and Unemployment

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

Class 8[対面/face to face]：Credit Markets

This lecture explains the role of financial markets and banks in encouraging long-term investment for economic growth.

Class 9[対面/face to face]：The Monetary System

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]：Short-Run Fluctuations

This lecture explains what we observe in economic booms and recessions, including the global financial crisis in 2008-2009, and what causes those short-term fluctuations.

Class 11[対面/face to face]：Countercyclical Macroeconomic Policy

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

Class 12[対面/face to face]：Macroeconomics and International Trade

This lecture covers recent trends in international trade across countries and explains what a key driving force for the trade pattern under globalization is.

Class 13[対面/face to face]：Open Economy Macroeconomics

This lecture covers exchange rates and their determinants and explains their relationship with trade and international capital flows.

Class 14[対面/face to face]：Final Exam

We have an in-class examination.

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.

Macroeconomics (Global Edition, 3rd edition), by Daron Acemoglu, David Laibson, and John List. You can access the textbook via MyLab, provided by Pearson.

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%) and (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 in their own words.

I will try to have more transactions with students by asking questions etc.

All students must purchase MyLab, a computer-based e-learning platform by Pearson, to access the assignments and the textbook. However, students who bought MyLab for "Principles of Microeconomics" do not need to buy it again.

None

Principles of Microeconomics

Introduction to Japanese Economy