Autumn Semester 2020 takes place in a mixed form of online and classroom teaching.
Please read the published information on the individual courses carefully.

363-0565-00L  Principles of Macroeconomics

SemesterAutumn Semester 2016
LecturersJ.‑E. Sturm
Periodicityyearly recurring course
Language of instructionEnglish


AbstractThis course examines the behaviour of macroeconomic variables, such as gross domestic product, unemployment and inflation rates. It tries to answer questions like: How can we explain fluctuations of national economic activity? What can economic policy do against unemployment and inflation. What significance do international economic relations have for Switzerland?
ObjectiveThis lecture will introduce the fundamentals of macroeconomic theory and explain their relevance to every-day economic problems.
ContentThis course helps you understand the world in which you live. There are many questions about the macroeconomy that might spark your curiosity. Why are living standards so meagre in many African countries? Why do some countries have high rates of inflation while others have stable prices? Why have some European countries adopted a common currency? These are just a few of the questions that this course will help you answer.
Furthermore, this course will give you a better understanding of the potential and limits of economic policy. As a voter, you help choose the policies that guide the allocation of society's resources. When deciding which policies to support, you may find yourself asking various questions about economics. What are the burdens associated with alternative forms of taxation? What are the effects of free trade with other countries? What is the best way to protect the environment? How does the government budget deficit affect the economy? These and similar questions are always on the minds of policy makers.
Lecture notesThe course webpage (to be found at https://moodle-app2.let.ethz.ch/course/view.php?id=2467) contains announcements, course information and lecture slides.
LiteratureThe set-up of the course will closely follow the book of
N. Gregory Mankiw and Mark P. Taylor (2014), Economics, Cengage Learning, Third Edition.

We advise you to also buy access to Aplia. This internet platform will support you in learning for this course. To save money, you should buy the book together with Aplia. This is sold as a bundle (ISBN: 9781473715998).

Besides this textbook, the slides and lecture notes will cover the content of the lecture and the exam questions.