Credits: 6
Schedule: 20.05.2019 - 07.06.2019
Learning Outcomes (valid 01.08.2018-31.07.2020):
Learning outcomes for this course, upon successful completion, include the ability to:
1) apply macroeconomic models to problems of short-term and medium-term equilibrium, 2) analyze the determinants of output, employment, and growth in the long run, 3) critically appraise the influence of policy on the economy, and 4) understand the significance of developments in the international system, for example economic and monetary union.
Content (valid 01.08.2018-31.07.2020):
This course builds on knowledge gained in an introductory economics course by deepening students’ competence in using macroeconomic models to explain the determination of aggregate output, money, prices, inflation, interest rates, employment and growth. The impact of monetary and fiscal policy on the economy will also be discussed. Other topics addressed include short-, medium- and long-term equilibrium models, international trade and borrowing, open economy, exchange rate theory, economic and monetary union, and Keynesian versus neoclassical economic theories. The course is intended to complement microeconomics, the study of the economic behavior of individual consumers, firms, and industries.
Prerequisites (valid 01.08.2018-31.07.2020):
basic course in economics