Macroeconomics WSE-EK-Ma

This course is intended to both broaden students' knowledge of macroeconomics and to develop their ability to cope with spoken and written macroeconomic texts in English. This aim is met through a presentation and discussion of chosen issues important in contemporary macroeconomics. A choice of simple, wriiten texts should help students understand the problems discussed.

The list of subjects/lectures and respective literature is as below:

1. The substance and character of the course
2. Macroeconomics – its scope, main research topics and questions, different answers and varied schools
3. Something went wrong (P. Krugman, How Did Economists Get It So Wrong? http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html)
4. Stabilization policies, its’ limitations, ineffectiveness and side effects
5. The case of Japan; three lost decades, ineffective policies, a glimpse into the origins of problems Japan’s economic troubles offer a glimpse of a sobering future, The Economist, 5th Dec.2019, https://www.economist.com/finance-and-economics/2019/12/05/japans-economic-troubles-offer-a-glimpse-of-a-sobering-future?cid1=cust/dailypicks1/n/bl/n/2019125n/owned/n/n/dailypicks1/n/n/e/355369/n
6. Wages and underconsumption (A. Koronowski, Labour incomes and economic activity in Poland , chapter in: Public Policy in Transition Economies. An Institutional Perspective / Grodzicki Maciej, Zachorowska-Mazurkiewicz Anna (eds.), 2024, London, Routledge, pp.77-88, ISBN 9781032546056, ID DOI:10.4324/9781003425717-7 or https://www.jomswsge.com/Labour-incomes-and-economic-activity-in-Poland,175512,0,1.html Galbraith str. 465
7. Technology, employment (jobless growth), wages (A. Koronowski, Technological Progress and Unemployment: Luddism and Beyond, Gospodarka Narodowa nr 4/2016, https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://gnpje.sgh.waw.pl/pdf-100757-33149&ved=2ahUKEwjB7OzQ6PSSAxUaORAIHVTWDS0QFnoECBYQAQ&usg=AOvVaw0OCylPJV0LD9NZoC4iFPQk
8. Inclusive/exclusive technical change (D. Acemoglu, S. Johnson, Power and Progress, Basic Books, 2024; wyd. polskie 2025)
9. Globalization and economic activity (production offshoring and shrinking consumption) in developed countries, international chains of value added https://www.imf.org/en/publications/economic-issues/issues/2016/12/30/does-globalization-lower-wages-and-export-jobs-2346, https://www.latimes.com/archives/la-xpm-1996-09-22-mn-46610-story.html
10. Imperialism or export-led growth; low domestic consumption left apart (R. Hausman, Export-led Growth, https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://growthlab.hks.harvard.edu/wp-content/uploads/2024/11/2024-07-glwp-231-export-led-growth.pdf&ved=2ahUKEwiJ5Zqc6vSSAxUXAhAIHTOJI3sQFnoECCAQAQ&usg=AOvVaw0-RFskaXc3zZz1wf22fWOe )
11. Rising inequalities and its economic and social dimensions (A. Koronowski, Rational microeconomic decisions and its non-optimal macroeconomic outcomes; the role for social institutions, JFMS nr 39 (2019), December 209str. 17-27, ISSN 1899-8968, https://econjournals.sgh.waw.pl/JMFS/article/view/1858/1655), (J. Siglitz, The Price of Inequality, Norton&Company, 2013)
12. The meaning of institutions (D. Acemoglu, J.A. Robinson, Why Nations Fail, Profile Books LTD, 2013, wyd. polskie 2014)
13. Supply side economics
14. Ideological bias in macroeconomics; microeconomic perspective of the labour market (C-D function and MPL), Cambridge controversies, Laffer’s curve, tricle-down economics https://www.youtube.com/watch?v=a6lwrDhzRzQ
15. Test