Macroeconomics (BBEng)

Description

Regarding the general learning outcomes to be achieved at the level of the program: Students -know and understand the leading concepts in economics, and are able to use them to analyse and solve typical problems from an economic conceptual framework. -can describe and interpret the behaviour of economic actors and can assess their consequences for an organisation and society at large. -can communicate clearly in the language of the programme as well as in two foreign languages. -recognise the international dimensions of business management and policy making, and can analyse (business-)economic issues as part of an international framework. -develops a professional attitude and professional and academic skills that allow him/her to offer a meaningful contribution to society. -In his/her acting and thinking, the student pays attention to the environment, the human being and society and he/she develops a critical attitude in this context Regarding the specific learning results of this course: The aim is that the student familiarizes himself with a coherent integrated framework of major macroeconomic models that allows them to analyse and to grasp diverse macro-economic phenomena and problems. In doing so, he adopts a critical science-based attitude.  The student... interprets and analyses, on the macro-economic level, the behaviour of the different economic agents (consumers, firms, governments) on the various domestic and foreign markets (goods market, money and financial market, exchange market and labor market) Defines, explains and uses, both graphically and model-based, macro-economic concepts and variables (e.g. GDP, economic growth, inflation, unemployment, devaluation, balance of payments, competitiveness, intrest rate, …) Analyses a simultaneous equilibrium model and explains how the economy evolves towards a state of equilibrium, using both a graph as well as explaining the economic intuition in words Evaluates the effectiveness of government intervention (fiscal and monetary policy, labor market policy, exchange rate policy) Understands macro-economic articles in the daily press and macroeconomic events in the real world and is able to situate them critically in the field of macroeconomics