3. Education program of the discipline (syllabus)

3.1 Information about teacher:

Zhartay Zh.M., senior teacher, master of economic sciences.

Gazizova M.R., teacher, master of economic sciences.

Chair of Economy and International business, room #448,

Days: Monday – Friday, 10.00 a.m. – 17.00 p.m.

3.2 Pre-requisites of a course: Economic theory, History of economic doctrines, Microeconomics, Macroeconomics.

3.3 Post-requisites of a course: Foreign trade policy, International trade and world money, International economics, International economic relations.

3.4 Brief description of the discipline

Discipline of «Economic Policy» is a component of a cycle of all-professional and special disciplines and is intending for studying by students of economic specialties.

Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest ratesand government budget as well as the labor market, national ownership, and many other areas of government interventions into the economy.

Such policies are often influenced by international institutions like the International Monetary Fund or World Bank as well as politicalbeliefs and the consequent policies of parties.

British economist John Maynard Keynes (1883-1946) argued that self-adjusting market forces could take a long time to restore full employment. He predicted that an economy can be stuck at a high level of unemployment for a prolonged period, leading to untold miseries. Keynes explained that classical economics suffered from major flaws. Wages and prices are not as flexible as classical economists assumed – in fact, nominal wages tend toward the downward direction. Keynes further argued that classical economists had ignored a key factor that determined the level of output and employment in the economy – the "aggregate demand" for goods and services in the economy from all sources (consumers, businesses, government, and foreigners). Producers produce (and provide employment in the process) to meet the demand for their goods and services. If the level of aggregate demand is low, the economy would not create enough jobs and unemployment can result. In other words, the free working of the macroeconomics does not guarantee full employment—deficient aggregate demand can cause unemployment. Thus, if the aggregate private demand (i.e., the aggregate demand excluding government spending) falls short of the demand level needed to generate full employment, the government should step in to take up the slack.

The central issue underlying Keynesian thought was that those who have incomes demand goods and services and, in turn, help to create jobs. The government should thus find a way to increase aggregate demand.

4. THE SCHEDULE OF PERFORMANCE AND DELIVERY OF THE TASKS ON THE DISCIPLINE

№	Type of works	The aim and content of task	References	Performance time	Form of control	Points (according to the rating scale)	Deadline	Delivery term
1	Control work	Fixing theoretical knowledge and development practical ability	Basic and additional literature	3-4 week	Current control	50-100	Written work	5 week
2	Written work	Development of research ability	Basic and additional literature	7 week	Current control	50-100	Orally	8 week
3	Presentation	Fixing theoretical knowledge and development research ability	Basic and additional literature	9 week	Current control	50-100	Orally	10 week
4	Colloquium	Examination	Basic and additional literature	13 week	Current control	50-100	Orally	13 week (after intermediate control)
5	For activity	Fix and synthesis of knowledge of students, development of cognitive activity	Basic and additional literature	1-15 weeks	Current control	50-100	Orally	15 week