Versions

I. COURSE DESCRIPTION
II. SUBJECT REQUIREMENTS
III. COURSE CURRICULUM
SUBJECT DATA
OBJECTIVES AND LEARNING OUTCOMES
TESTING AND ASSESSMENT OF LEARNING PERFORMANCE
THEMATIC UNITS AND FURTHER DETAILS
Course name
ECONOMICS II
Course code
BMEGT30A103
Course type
Contact lessons
Kurzustípusok és óraszámok
Type
Lessons
Lecture
2
Practice
0
Laboratory
0
Type of assessment
exam grade
Number of credits
3
Course leader
Name
Dr. Gilányi Zsolt
Position
associate professor
Email adress
gilanyi.zsolt@gtk.bme.hu
Organizational unit for the subject

Department of Economics

Subject website
Language of teaching
magyar - HU; english - ENG
Curriculum role of the subject, recommended semester

Programme: Műszaki menedzser alapszak 2015/16/1 félévtől

Subject Role: Kötelező

Recommended semester: 2

Programme: Műszaki menedzser alapszak 2017/18/1 félévtől

Subject Role: Kötelező

Recommended semester: 0

Pre-requisites
strong
None
weak
None
paralell
None
exclusive
None
A tantárgyleírás érvényessége
Approved by the Faculty Board of Faculty of Economic and Social Sciences, Decree No: KT 2019.05.29. Valid from September 1, 2019.

Objectives

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, unemployment, 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 statistical office and the central bank.

Learning outcomes

Knowledge
  1. the framework of inational accouting, payment systemsa and basic terms used in makroeconomics;
  2. rules of different monetary systems,
  3. the modern private credit-money system and the Chicago-plan aiming to reform it
  4. notion of unemployment,
  5. input-output analysis method to describe multi sector models,
  6. the effects of basic economic intervention
  7. the main propositions of the Keynesian theory and of the general equilibrium theory
Ability
  1. interpret real economies with absract models
  2. interpret genuine economic data published by the statistical office,
  3. analyse economic process,
  4. identify economic problems and also the tools to answer these problems
  5. formulate scientific propositions
  6. present ideas in a comprehensive manner
Attitude
  1. collaborate with their instructors and fellow students during the learning process,
  2. sociable, ethical and objective attude toward socio-economic problems
  3. gain knowledge and information,
  4. are open to learn and adapt the methodology of information technology tools
  5. are aiming at precise and correct problem solution.
Autonomy and responsibility
  1. independently formulate and solve problems related to macroeconomic process,
  2. take responsability for their work and professional progress
  3. are open for reliable critical remarks
  4. use scientific thinking.

Methodology of teaching

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

Materials supporting learning

  • Gilányi, Zs.(2020), Piacgazda(g)ság: oikonomia vagy khrematistiké?, Akadémia kiadó.
  • Benes J.-Kumhof M. (2012), The Chicago Plan Revisited, IMF Working Paper.
  • Cartelier J. (2018), Money, Markets and Capital, Routledge.
  • L-Randall Wray (2015), Modern Money Theory, Palgrave

General Rules

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

Performance evaluation methods

A. Szorgalmi időszakban végzett teljesítményértékelések részletes leírása - Detailed description of assesments during the semester: 1. Részteljesítmény-értékelés (ellenőrző dolgozat): a tantárgy tudás, képesség, valamint önállóság típusú kompe-tenciaelemeinek komplex értékelési módja, melynek megjelenési formája az ellenőrző dolgozat, amelynek tartalmát, követelményeit és értékelési módját a tantárgy előadója határozza meg. 1. Learning unit assessment: the precise from, content and assessment of the written test is to be determined by the lecturer. B. Vizsgaidőszakban végzett teljesítményértékelés (vizsga) – assessment in exam session (exam) A vizsga elemei – elements of the exam: 1. Írásbeli teljesítményértékelés (vizsga): a tantárgy tudás, képesség, attitűd valamint önállóság és felelősség tí-pusú kompetenciaelemeinek komplex értékelési módja, melynek megjelenési formája az írásbeli vizsga, amelynek tartalmát, követelményeit és értékelési módját a tantárgy előadója határozza meg. 2. Évközi eredmények beszámítása: az évközi eredmény a vizsgára bocsájtás (aláírás megszerzésének) feltétele, és az érdemjegy kialakításában is szerepet játszik. 1. Written assessment (exam): the precise from, content and assessment of the written test is to be determined by the lecturer. 2. During the semester assessment in final grading: prerequisite for exam admittance and also included in final grading

Proportion of performance evaluations performed during the diligence period in the rating

  • 1. learing unit assessment (1. test): 0 vagy/or 25%
  • 2. learing unit assessment (2. test): 0 vagy/or 25%
  • 3. learing unit assessment (3. test): 0 vagy/or 25%
  • 4. learing unit assessment (4. test): 0 vagy/or 25%
  • 5. learing unit assessment (5. test): 0 vagy/or 25%
  • 6. learing unit assessment (6. test): 0 vagy/or 25%
  • total: 100%

Proportion of examination elements in the rating

  • written exam: 72%
  • during semester assessments: 28%
  • total: 100%+

The condition for obtaining the signature, validity of the signature

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

Grading

%
Excellent 90-100
Very good 84–90
Good 72,5–84
Satisfactory 65–72,5
Pass 50–65
Fail 50

Correction and retake

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

Study work required to complete the course

Work type Amount of work hours
Participation in contact lessons 14×2=28
Preparation during the semester for for contact lessons and tests 14×2=28
preparation for exam 34
total 90

Approval and validity of subject requirements

Consulted with the Faculty Student Representative Committee, approved by dr. Lógó Emma, Vice Dean for Educatio. Date: 05. 13. 2019. Valid from September 1, 2019.

Topics discussed during the semester

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

Topics of lectures
1. ömlesztettBasic notions and concepts 1: theoretical procedure, scope of macroeconomics; wealth and basic logic of wealth accumulation.
2. Basic notions and concepts 2: Notion of payment system; monetary system as a special payment system, and money as an element of this system
3. Functioning of the modern private credit money system: money creation and bank transactions
4. Properties of the modern private credit money system
5. Exercises: money creation and bank transactions
6. Attempts aiming at reforming the modern credit money system: Chicago plan
7. Structure of national accounting, main aggregates (investment, saving, consumption, GDP)
8. Structure of national accounting: exercises
9. Phenomena interpreted in the framework of national accounting: growth, economic cycle, crisis
10. Input-output model: exercises with real and nominal variables
11. Simplified Keynesian model: multiplier effect, paradox of thrift and involuntary unemployment
12. Exercises: Simplified Keynesian model
13. IS-LM model
14. Summary, exercises

Lecturers participating in teaching

Name Rank Contact
Dr. Ligeti Zsombor egyetemi docens, associate professor ligeti.zsombor@gtk.bme.hu

Approval and validity of subject requirements

Part I-III of the Subject Form is to be approved by the Head of Department of Economics named under 1.8.