The aim of the assessment is to compare 2 economies (you can choose any 2 economies) in terms of their main macroeconomic indicators, monetary and fiscal policies and global positioning of these economies. The comparison should be provided on the basis of 3-5 years time frame. 

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Course Prefix and Number ECO102


Home Department César Ritz Colleges Switzerland

Home Program BIB in Hotel & Tourism Management
BA in Hospitality Business Management

Term Winter 2022: January 10 to March 25, 2022
Meeting Schedule

Distance Learning

Instructor Information
Olga Larina
Office hours: by appointment

TA, Lab Instructor Information
(If Appropriate) N/A

Number of Credits 3 Credits at Level n/a
Amount of Student Effort
(Hours) 88 Class Contact Time (Hours) 44

Course Status Mandatory

Pre-Requisites None

Required and/or
Recommended Textbooks And
Course Materials

All materials will be uploaded on Moodle.

In Library you can find useful texts like:

Samuelson, P.A. & Nordhaus, W.D. (2010). Economics (19th edition,
International edition). New York: McGraw-Hill

Recommended texts

Mankiw, N.G. & Taylor, M.P. (2011). Economics. Publisher: Brendan George.

Krugman P, Wells R. (2015). Economics (4th edition). New York: Worth

Other useful resources:

1) American Economics Association
Official site of the American Economics Association, offering electronic
editions of the American Economic Review, Journal of Economic Literature
and Journal of Economic Perspectives to members.
2) The Economist – weekly journal and channel;
3) National Bureau of Economics Research: great site listing recent working
papers in Economics. Abstracts and paper downloads available;
5) QM & RBC Job Market – The Quantitiative Macro and RBC Job Market
Research Papers in Economics 
- The largest bibliographic database with
over 325 000 items of research that can be browsed or searched, and over
225 000 items available for full download.

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Course Outline

Macroeconomics is the study of the total product, price level (or
inflation), employment and growth. Attention is given in the short-run
fluctuations (the business cycle) and its mainstream theoretical
explanations. Hospitality students can learn a lot of this course since
hospitality industry is a very important sector of the economy in many
countries and the various shocks (either of domestic or foreign origin)
affecting the economy as a whole, affect this industry as well. The
hospitality sector also affects the rest of the economy. In this course we
learn basic analytical tools (the IS-LM and AD-AS models) of describing and
explaining the short-run fluctuations of an economy as well as the debate
about the possibility or not of stabilization by means of monetary and
fiscal policy instruments.

Teaching and Learning Strategy
/ Instructional Methods

The course will be delivered by means of lectures and discussions.
Attention is paid to the analytical thinking. “Real-life” situations are
analyzed by means of macroeconomic concepts.

Instructor Interaction

Office hours:10

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