Course Name Year Term Period Faculty / Graduate School All Instructors Credits
16415:IR18‐DE105 Macroeconomics (RA) § 16416:RUIR-1211 Macroeconomics(RA) 2024 Spring Tue2 College　Of　International　Relations TOKUMARU HIROSHI 2

Campus

KIC

Class Venue

MEIGAKUKAN　MG001

Language

English

Course Outline and Method

This is an introductory macroeconomics course for international studies students. Macroeconomics, the study of the economy as a whole, is concerned with economy-wide phenomena such as growth, inflation/deflation, unemployment, and external imbalances. We will study the basic concepts and tools used in macroeconomic analysis and learn how to apply them to economic policy issues. An emphasis will be placed on the open economy.
Macroeconomics is an effective tool for policymakers. By applying macroeconomic theory, policymakers can design fiscal, monetary, and structural adjustment policies to prudently manage the economy. This course will enable students to understand the macroeconomic picture and to critically evaluate fiscal and monetary policies.
This course will assume a non-technical posture. Although simple algebra and graphical analysis are presumed, advanced mathematical skills are not required.
This course employs the instructor's practical knowledge of economic management, based on his work experience at the Bank of Japan, the International Monetary Fund, and the World Bank.
The course contents/schedule may be subject to revision, if such adjustment helps to better serve the educational needs of the class.

Student Attainment Objectives

Students will be able to:
1. Understand basic macroeconomic concepts and theories
2. Understand how economic agents interact and affect the workings of the economy
3. Measure and calculate different indicators of the economy
4. Increase their understanding of real economic issues

Recommended Preparatory Course

There are no formal prerequisite subjects for this course.

Course Schedule

Lecture/Instructor（When there are multiple instructors) Theme
Keyword, References and Supplementary Information
1

Introduction and Overview of the Course: What is Macroeconomics?

Economic policy, National economy, Policymaking, Poverty reduction, Welfare state

2

Review of Microeconomics

Demand, Elasticity, Equilibrium, Price, Supply, Surplus

3-4

Measurement of the Macroeconomy

Gross domestic product (GDP), National accounts, Nominal GDP, Price index, Real GDP, Unemployment rate

5

Production, Income, and Expenditure

Consumption, Deflationary gap, Government expenditure, Inflationary gap, Investment, Saving

6

Aggregate Demand (AD) and Aggregate Supply (AS)

AD-AS model, Aggregate demand curve, Aggregate supply curve, Demand shock, Supply shock

7-8

Monetary Affairs

Central bank, Liquidity, Monetary base, Monetary policy, Money stock, Open-market operations, Reserves

9

Fiscal Affairs

Built-in stabilizer, Intergenerational inequity, Multiplier effect, Public debt, Public works, Social security, Taxation

10

Inflation, Deflation and Unemployment

Disinflation, Expectations, Natural rate of unemployment, Social cost, Unemployment insurance

11

Balance of Payments

Absorption, Capital account, Current account, External debt, Financial account, Investment position, Trade

12

Foreign Exchange Market

Appreciation, Depreciation, Flexible exchange rate, Nominal exchange rate, Purchasing power parity, Real exchange rate

13-14

Open Economy Macroeconomics

External balance, Net capital outflow, Net exports, Spillover effects, Trade policy

15

Economic Growth and Development

Human capital, Productivity, Physical capital, Research and development, Technological progress

Class Format

All classes of this course will meet on-campus in-person as instructed by the College. In principle, students are expected to physically attend the class sessions.
My lectures will be given in the classroom as scheduled. Upon prior proper request due to a justifiable reason, my lectures will be delivered online in real time and/or be recorded with Zoom.

Recommendations for Private Study

Students are encouraged to review what they have learned in class; each new section of this course will be based on the contents learned in the earlier sessions. This will ensure that students build up their knowledge and benefit from the course at the maximum.

Students are encouraged to keep up with the current international economic news.

Grade Evaluation Method

Kind Percentage Grading Criteria etc.
Final Examination (Written)

Report Examination
(A report to be submitted by the unified deadline)

Exams and/or Reports other than those stated above, and Continuous Assessment　
(Evaluation of Everyday Performance in Class)		 100

Term paper - 70%
Short answer questions - 15%
Class participation - 15%

Grade Evaluation Method （Note）

Grading is based on one term paper, short answer questions, and class participation.
The paper will count for 70% (70 points) of the whole grade. What students turn in should represent his/her own work - not generative AI's work - that provides evidence of his/her understanding the concepts, theories and ideas developed in the course. There will be no minimum/maximum word/page requirements for the term paper. Although length is not an important factor in evaluating your paper, too long or too short may reduce the grade. Detailed Instructions for the paper will be provided in class.
Students can earn up to 15 points (15% of the grade) by successfully completing short answer questions. These questions will be designed to help students understand key topics. Each question will take no more than 15 minutes.
Class participation will count for 15% (15 points) of the whole grade. Attendance will be taken and it will be incorporated in the grade.

Advice to Students on Study and Research Methods

We welcome students that are interested in the global economy and have reasonable communication skills and common sense.
Regular attendance is not required but strongly recommended. In this course, each new section will be based on the concepts learned in the earlier sections. Students will be unable to understand the current lectures unless they understood the previous lectures. In addition, students should be responsible for any notes and announcements that he/she may have missed if he/she fails to attend class.
In order to run the class smoothly, disturbing behavior will not be tolerated. All students are expected to conduct themselves with courtesy, diligence, honesty, and integrity.
Students should be honest in all of their academic work. Evidence of academic misconduct such as cheating, plagiarism, and false attendance may result in an F-grade and/or an academic disciplinary action in accordance with the College's rules.
The official language of this course is English. Students may communicate with the instructor in Japanese outside/after class.
The course materials are for internal use only and may not be publicly disclosed in any form or manner whatsoever.
Manaba+R will be used for general class announcements. Class cancellations/changes will be posted on Manaba+R.

Textbooks

Textbooks （Frequency of Use, Note）

There is no required textbook for this course. Handouts will be provided in class.

Reference Books

Title Author Publisher ISBN Code Comment
Principles of Macroeconomics Mankiw, N. Gregory Cengage Learning 978-1305971509

Reference Books （Frequency of Use, Note）

Handouts will be provided in class.

Web Pages for Reference

Bank of Japan http://www.boj.or.jp
International Monetary Fund http://www.imf.org
Japan External Trade Organization http://www.jetro.go.jp
Ministry of Economy, Trade and Industry http://www.meti.go.jp
Ministry of Finance http://www.mof.go.jp
Organization for Economic Co-operation and Development http://www.oecd.org
World Bank http://www.worldbank.org
World Trade Organization http://www.wto.org

How to Communicate with the Instructor In and Out of Class(Including Instructor Contact Information)

Learning Management System （manaba+R）,Talk with Students,Other (Separate instructions will be provided)

Other Comments




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