Economics II. - BMEGT30A110

The aim of the course is to describe some important real world phenomena in the framework of national accounting, including especially the functioning of the monetary system (increasing stock of money and loan), public debt, un-employment, crisis, cycles and economic growth. In addition to an introduction into the basic notions and principles, we link together theory and practice through genuine national accounting and financial data published by the statis-tical office and the central bank.

1. The students are aware of
2. the framework of inational accouting, payment systemsa and basic terms used in makroeconomics;
3. rules of different monetary systems,
4. the modern private credit-money system and the Chicago-plan aiming to reform it
5. notion of unemployment,
6. input-output analysis method to describe multi sector models,
7. the effects of basic economic intervention
8. the main propositions of the Keynesian theory and of the general equilibrium theory

1. The students are able to
2. interpret real economies with absract models
3. interpret genuine economic data published by the statistical office,
4. analyse economic process,
5. identify economic problems and also the tools to answer these problems
6. formulate scientific propositions
7. present ideas in a comprehensive manner

1. Students
2. collaborate with their instructors and fellow students during the learning process,
3. sociable, ethical and objective attude toward socio-economic problems
4. gain knowledge and information,
5. are open to learn and adapt the methodology of information technology tools
6. are aiming at precise and correct problem solution.

1. Students independently formulate and solve problems related to macroeconomic process,
2. Students take responsability for their work and professional progress
3. Students are open for reliable critical remarks
4. Students use scientific thinking.

Lectures, computational exercises and communication in written and oral form.

• Tankönyvek, jegyzetek, letölthető anyagok - – Textbooks, notes and downloadable materials
• 1. Gilányi, Zs.(2020), Piacgazda(g)ság: oikonomia vagy khrematistiké?, Akadémia kiadó.
• 2. Benes J.-Kumhof M. (2012), The Chicago Plan Revisited, IMF Working Paper.
• 3. Cartelier J. (2018), Money, Markets and Capital, Routledge.
• 4. L-Randall Wray (2015), Modern Money Theory, Palgrave.

Assessment of learning outcomes described under 2.2. is based on 6 obligatory and 4 optional written tests during the semester (learning unit assessment), and during the exam session an overall written assessement (written exam).

Learning unit assessment: the precise from, content and assessment of the written test is to be determined by the lecturer. From the 6 learing unit assessments during the semester the result of this unit is determined by the 4 best results. During the semester 4 non obligatory learning unit assessments can be passed; these results count exclusively in the final grade.

• 1. learning unit assessment: 0 vagy/or 25%
• 2. learning unit assessment: 0 vagy/or 25%
• 3. learning unit assessment: 0 vagy/or 25%
• 4. learning unit assessment: 0 vagy/or 25%
• 5. learning unit assessment: 0 vagy/or 25%
• 6. learning unit assessment: 0 vagy/or 25%
• Total: 100%

• Written exam: 72%
• During semester assessments: 28%
• Total: 100%
• The „+” sign means that due the the non obligatory during the semester tests the maximum value may be gretaer than 100%, namely 112%. The student who achieves at least 75% out of the during period tests can have the offered grade good (4):

The condition to obtain the signature (to present at the exam) is to achieve at least 50% of 4 during the period tests out of the 6.

During semester tests cannot be made up or retaken. The admittance to exam is determined by the best 4 tests out of the 6. The written exam can be retaken and made up according to the general rules on studies and exams fixed by the university.

Consulted with the Faculty Student Representative Committee, approved by the Vice Dean for Education, valid from: 07.02.2022.

Subject includes the topics detailed in the course syllabus to ensure learning outcomes listed under 2.2. can be achie-ved. Timing of the topics may be affected by calendar or other circumstances in each semester.