Credits: 6
Schedule: 28.01.2019 - 15.02.2019
Learning Outcomes (valid 01.08.2018-31.07.2020):
Learning outcomes for this course, upon successful completion, include the ability to:
1) know and understand the key principles of economics underlying the market and the economy, 2) calculate real economic variables, such as real GDP, inflation and unemployment rates and be familiar with important international economic databases, 3) know and understand how fundamental economic theory applies to international business, 4) understand how aggregate variables such as inflation and unemployment behave and how the government and Central Banks can influence their behavior, and 5) understand the impact of economic fluctuations at a domestic and international level.
Content (valid 01.08.2018-31.07.2020):
The purpose of this course is to introduce students to the principles of economics. It distinguishes between microeconomics and macroeconomics with a stronger emphasis on the latter. The microeconomics section addresses the topics of scarcity, opportunity cost, demand and supply, elasticity, cost theory and market structures. The macroeconomics section addresses topics such as trends in real economic variables, production and growth, theory of income determination, the consumption function, fiscal policy and monetary policy.
- Teacher: Pavlov Oleg