ECONOMICS II - BMEGT30A103

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.

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

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

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.

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.

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

• 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

The assessment of the learning outcomes set out in 2.2 is based on a summative written assessment (written examination) during the examination period. The signature is conditional on the passing (50%) of at least 2 out of 3 compulsory mid-year written assessments (sub-assessments). A satisfactory mark is offered to the candidate who has achieved a minimum of 60% in each of the two best mid-year written tests.

A. Detailed description of assesments during the semester: 1. Learning unit assessment: the precise from, content and assessment of the written test is to be determined by the lecturer. B. Assessment in exam session (exam) A vizsga elemei – elements of the exam: 1. Written assessment (exam): the precise from, content and assessment of the written test is to be deter-mined by the lecturer. 2. During the semester assessment in final grading: prerequisite for exam admittance but not included in final grading 3. The student who achieves good (4) can present for oral exam to obtain very good (5); lower grade is not excluded.

• written exam: 100
• total: 100

The signature is conditional on the passing (50%) of at least 2 out of 3 compulsory mid-year written assessments (sub-assessments).

During semester tests cannot be made up or retaken. The admittance to exam is determined by the best 2 test out of the 3. The written exam can be retaken and made up according to the general rules on studies and exam fixed by the university.

Consulted with the Faculty Student Representative Committee, approved by the Vice Dean for Education, valid from: 06.11.2023.

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