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SYLLABUS

1. Program description
1.1 University
1.2 Faculty
1.3 Department
1.4 Field of study
1.5 Study cycle
1.6 Program of study/ Qualification

Bucharest University of Economic Studies


Finance, Insurance, Banks and Stock Exchanges
Finance
Finance
Master
Financial management and investments

2. Course description
2.1 The name of discipline
Financial Macroeconomics
Course Code
14.0215ZI2.1-0002
2.2 Professor for the course
Prof.univ.dr. Iulian Brasoveanu
2.3 Professor for the seminar Prof.univ.dr. Iulian Brasoveanu
2.4 Year of Study II 2.5
I 2.6 Type of the
Exam 2.7 Type of
Semester
evaluation
the course
3. Total estimated time (hours/semester of didactic activities)
3.1 Total number of teaching
3
of which:
2
hours per week
3.2 course

Mandatory

1
3.3 seminar/lab
activities

3.4 Total number of teaching


42
of which:
28
hours per semester (cf.
3.5 course
3.6 seminar/lab
curricula)
activities
Time allotment for individual study
Study of the lecture notes, course support, bibliography
Additional documentation (in libraries, on electronic platforms, field documentation)
Preparation for seminar/ lab classes, homework, referrals, projects and essays
Tutorship
Evaluation
Other activities: Work on the projects assigned at the seminar
3.7 Total number of hours for
108
individual study
3.8 Total number of hours per
150
semester (teaching hours and
individual study)
3. 9 Number of ECTS credits
6
allocated
4. Pre-requisites (if necessary)
4.1 curriculum

4.2 competences
Current use of specific tools for Macroeconomics, of the statistic and
econometric methods

14
Hours
40
18
18
10
2
20

5. Requirements ( if necessary )
5.1. regarding
Lectures take place in rooms with multimedia teaching equipment
course delivery
5.2. regarding
Seminars take place in rooms with multimedia teaching equipment
seminar delivery

Professional
competencies

6. Specific competencies acquired

C1 - The use of scientific concepts and methods in interdisciplinary areas

C5 - Modelling and analyzing the financial macroeconomic indicators

7. Objectives of the discipline (outcome of the acquired competencies)


7.1 General objective of
Advanced use of the principles, methods, techniques and
the discipline
tools specific to financial macroeconomics
7.2 Specific objective of
Experimental use of the principles, methods, techniques
the discipline
and tools specific to financial macroeconomics;
Current use of the macroeconomic, statistic and
econometric knowledge
Developing the knowledge and abilities required to achieve
further macroeconomic studies and research projects on
macroeconomic policies in national and international
context
Analysing the connections between the principal
macroeconomic indicators (inflation rate, unemployment
rate, public debt, current account, public budget)
8. Content
8. 1 Course

Teaching methods

Remarks

Introductory course - Scope and principles of the


financial macroeconomics

1 lecture
Active lecture,
permanent interaction
with the students.
The lectures are using
Power-Point support,
Excel support and
access to other
multimedia resources.

It is
recommended
for the students
to previously
read the lecture
support material
in order to be
able to interact
during class.

Aggregate demand and supply


Business cycle

1 lecture;
1 lecture

Idem
Idem

Measuring National Income and Growth


Economic growth theories
Monetary policy instruments;
Inflation and unemployment
Monetary policy in the international context
International Trade and Capital Flows
Fiscal policy (fiscal balance, Laffer curve, fiscal
multiplier,
crowding-out,
intergenerational
effects, discretionary fiscal policy, automatic
stabilizers)
Effects of Government Regulation
Public deficit and public debt
Fiscal adjustment policies
Tax evasion
Fiscal policy in Romania and in European Union
Bibliography

1 lectures
1 lectures
1 lecture

Idem
Idem
Idem

1 lecture
1 lecture
1 lectures

Idem
Idem
Idem

1 lecture
1 lecture
1 lecture
1 lecture
1 lecture

Idem
Idem
Idem
Idem
Idem

Barro, Robert, Macroeconomics, MIT Press, Cambridge, Cambridge, 1997


Barro, Robert; Grilli, Vittorio, European Macroeconomics, Macmillan, New York, 1994
Braoveanu, Iulian Analize ale politcii fiscale n Romnia i n statele membre ale UE,
ASE Publishing House, Bucharest, 2009
Cmpeanu, Emilia Teorii privind echilibrul financiar public, Universitar Publishing
House, Bucharest, 2005
Mankiw, N, Gregory Macroeconomics, 4th ed., New York: Worth Publishers, 2000
Obreja Braoveanu, Laura Impactul politicii fiscale asupra creterii economice, ASE
Publishing House, Bucharest, 2007
Stiglitz, Joseph, Principles of Macroeconomics, W.W.Norton, London, 1997
Stoian, Andreea Dezechilibrele bugetului public n contextul economic actual, ASE
Publishing House, Bucharest, 2009
8. 2 Seminar/lab activities
Teaching methods
Remarks
Applications
The applications are selected from the
Aggregate demand and
supply
course support material.
Applications
The applications are selected from the
Business cycle
course support material.
The applications are selected from the
Measuring
National Applications
Income and Growth
course support material.
The applications are selected from the
Economic
growth Applications
theories
course support material.
Case study
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
Monetary
policy Applications
instruments;
course support material.
Inflation
and Case study
Each project group works on their own
unemployment
case study (the country that was chosen
for analysis)

Monetary policy in the Applications


international context
Case study

International Trade and Applications


Capital Flows
Case study

Fiscal
policy
(fiscal Applications
balance, Laffer curve,
fiscal
multiplier, Case study
crowding-out,
intergenerational effects,
discretionary
fiscal
policy,
automatic
stabilizers)
Effects of Government Applications
Regulation
Case study

Public deficit and public Applications


debt
Case study

Fiscal adjustment policies Applications


Case study

Tax evasion

Applications
Case study

Fiscal policy in Romania

Applications
Case study

Fiscal policy in European

Applications

The applications are selected from the


course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)

The applications are selected from the


course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the
course support material.
Each project group works on their own
case study (the country that was chosen
for analysis)
The applications are selected from the

Union
Case study

course support material.


Each project group works on their own
case study (the country that was chosen
for analysis)

Bibliography

Barro, Robert, Macroeconomics, MIT Press, Cambridge, Cambridge, 1997


Barro, Robert; Grilli, Vittorio, European Macroeconomics, Macmillan, New York, 1994
Braoveanu, Iulian Analize ale politcii fiscale n Romnia i n statele membre ale UE,
ASE Publishing House, Bucharest, 2009
Cmpeanu, Emilia Teorii privind echilibrul financiar public, Universitar Publishing
House, Bucharest, 2005
Durlauf, N. Steven, Danny T. Quah, The New Empirics of Economic Growth, Handbook of
Macroeconomics,ed. John Taylor, Michael Woddford, 1999
Mankiw, N, Gregory Macroeconomics, 4th ed., New York: Worth Publishers, 2000
Mcgrattan, Ellen R., James A. Schmitz, Jr, Explaining Cross-Country Income Differences,
Handbook of Macroeconomics, ed. John Taylor, Michael Woddford, 1999
Obreja Braoveanu, Laura Impactul politicii fiscale asupra creterii economice, ASE
Publishing House, Bucharest, 2007
Solow, Robert M., Neoclassical Growth Theory, Handbook of Macroeconomics, ed. John
Taylor, Michael Woddford, 1999
Stiglitz, Joseph, Principles of Macroeconomics, W.W.Norton, London, 1997
Stoian, Andreea Dezechilibrele bugetului public n contextul economic actual, ASE
Publishing House, Bucharest, 2009

9. Corroborating the content of the discipline with the expectations of the epistemic
community, professional associations and representative employers within the field of the
program
Discussing the discipline contents with specialists, consultants and analysts from the Finance
Ministry, Fiscal Council, National Bank of Romania, Romanian Academy.
10. Evaluation
Type of activity

10.4 Course

10.1 Evaluation criteria


Subjects including
problems that require the
application of techniques
and tools of financial
macroeconomics and
interpretation of results

10.2 Evaluation methods

10.3 Share
in the final
grade (%)

Written exam
70%

10.5. Seminar/lab
activities

Date of syllabus
proposal
10.09.2013

Group project (a project


group has to have
minimum two members
and maximum five
members)

Case study
30%

Signature of the professor for the


course

Signature of the professor for the


seminar

Prof.univ.dr. Iulian BRAOVEANU

Prof.univ.dr. Iulian BRAOVEANU

Date of the approval in the


department

Signature of the Head of the department

12.09.2013

Conf.univ.dr. Lucian u

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