MICRO- AND MACROECONOMICS - BMEGT30A001

By introducing into the basic notions, principles and context of economic base knowledge, as well as into the logics of economic model building, the course enables students to decrypt everyday life economic phenomena and to uderstand social phenomena in a broad sense.

1. the process of scientific theory building, basic economic notions and the logics of the main economic theories
2. the mainstream economic theory’s (general equilibirum theory) analysis method (comparative statics, equilibirum, alternative cost)
3. the method of analysing economic welfare
4. the princing strategies for some market structures
5. some specific microeconomic issues of market failures (adverse selection, signaling, moral hazard, pollution, public goods)
6. the logics of national accounting and data available from national accounting
7. the three basic properties of monetary economies underlined by Keynes (multiplier effect, paradox of thrift, unvolontary unemployment)
8. the growth logc of market economies
9. the rules that govern the modern banking system and its properties 1
10. the basic logics of financial decisions

1. apply mainstream theory to assess welfare variations, tax impacts and other pricing issues
2. carry out profitability calculus (presnet value, cost-benefit analysis) including different loan constructions (ex. CHF loan),
3. identify fundamental market structures, determine indexes to describe market structures and firm’s position,
4. understand macroeconomic changes, especially monetary and fiscal policy measures
5. extend economic knowedge alone
6. understand economic issues and use economic litterature
7. understand economic events published in the media

1. collaborate with their instructors and fellow students during the learning process,
2. continously gain knowledge and information,
3. are open to learn and adapt the methodology of information technology tools
4. are aiming at knowing and using the tools that helps economic problem solving
5. are aiming at precise and correct problem solution.
6. are aiming at applying economic efficiency on firm level; and are able to take well founded decisions in complex or unexpected situations

1. independently formulate and solve micro- and macroproblems,
2. are open for reliable critical remarks
3. collaborates with the experts of other fields
4. use systemtic approach.

Lectures, computational exercises and communication in written and oral form. use of IT technics, optional: individual and in group problem solving.

• Margitay – Daruka – Petró: Mikroökonómia (Jegyzet a Mikro- és makroökonómia tárgyhoz),
• Pindyck, R. S.– Rubinfeld, D. L.: Microeconomics. Eighth Edition (Global Edition). Pearson, 2015.
• Gilányi, Zs.(2020), Piacgazda(g)ság: oikonomia vagy khrematistiké?, Akadémia kiadó.
• L-Randall Wray (2015), Modern Money Theory, Palgrave.
• Hal. R Varian (2014), Intermediate Microeconomics with Calculus, WW Norton and Co. New York
• Egyéb oktatási segédanyagok (gyakorló feladatok, mintazh stb.) a tanszék honlapján, a tárgy neve és kódja alatt érhetőek el: http://kgt.bme.hu/tantargyak/bsc/BMEGT30A001 other learning material (ex.: exercices for practice, sample tests) is available ont he webpage under the subject code.

Assessment of learning outcomes described under 2.2. is based on a written mid-term test for exam admission (signi-ture) during the semester and a written test in the exam period (exam). The exam can be replaced by a non obligatory during the semester test and accordingly an offered grade can be obtained from during the semester assessments.

A. Detailed description of assesments during the semester: 1. Learning unit assessment: the complex assessment of knowledge, skills and attitude is written test containing a test part and an exercice part. The test part is intended to assess the knowledge of notions and principles, the exercice part is intended to assess students’ problem solving. The precise from, content and assessment of the written test is to be determined by the lecturer in accordance with the subject responsible. B. Assessment in exam session (exam) Elements of the exam: 1. Written assessment (exam): the complex assessment of knowledge, skills and attitude is written test containing a test part and an exercice part. The test part is intended to assess the knowledge of notions and principles, the exercice part is intended to assess students’ problem solving. The precise from, content and assessment of the written test is to be determined by the lecturer in accordance with the subject responsible. Time available: 60 min. 2. During the semester assessment in final grading: the obligatory and non obligatory two successful written mid-term tests allow for offered grade without exam. If a student refuses the offered grade or does not have it,, he must write the exam in order to have a grade. In that case, the final grade is obtained exclusively by the exam performance.

• learning unit assessment: 50%
• learning unit assessment: 50%
• total: 100%+

• written exam: 100%
• during the semester assessment: 100%
• total: 100%+

The condition to obtain the singiture (admittance to exam) is to achieve at least 40% of the obligatory during the period tests.

1) The obligatory mid-term test can be retaken or made up once without any fee during the semester In case of make up, the make up grade counts. 2) If the student fails including the retake specified in point 1), then – for specific fee fixed in the university regulations – she or he can have a second retake during the retake period. 3) The non oblilgatory during the semester learning unit assessment cannot be retaken or made up, but the student is not obligatory to accept the offered grade. In that case, she/he presents at the exam if beholds the singiture; the mid term assessment is not any more taken into considerationn in the grading. 4) The exam can be retaken and made up according to the general rules of the university. IN case of make up, the grade of the make up test is the grade.

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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.

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