Macro-economics and Economic Policy

Description

Macroeconomics establishes a connection between the basis of Principles of managerial economics and the specialised subjects of the student's training (especially the last years). This subject introduces some aspects necessary for an independent analysis of macroeconomic problems. In addition, the course aims to prepare students for subsequent courses e.g. international economics, monetary economics and various subjects within corporate finance. The course aims at contributing to the following learning results: The student... On the macro-economic level, interprets and analyses the behaviour of the different economic agents on the various domestic and foreign markets (3.e) Describes and analyses the behavior of economic agents (consumers, firms, governments and foreign) and markets (real sector, money and financial market, exchange market and labor market) (3.e.1) Evalutes national accouting data as a measure of welfare (3.e.2) Defines, explains and uses, both graphically and model-based, macro- and micro-economic concepts (3.h) Describes what is meant by and is able to calculate macro-economic concepts and variables (e.g. GDP, national income, economic growth, inflation, unemployment, devaluation, balance of payments) (3.h.6) Analyses a simultaneous equilibrium model and explains how the model works towards an state of equilibrium, using both a graph as well as words (3.h.7) Evaluates the effectiveness of fiscal policy in a closed and open economy with fixed and flexible exchange rates (Macro-ec and Ec Policy) (3.h.8) Evaluates the effectiveness of monetary policy in a closed and open economy with fixed and flexible exchange rates (Macro-ec and Ec Policy) (3.h.9) Describes the perspectives of economic science, uses them in a (business) economics context and reflects critically on them (3.i) Understands macro-economic articles in the daily press and is able to situate and evaluate critically but constructive, their content within the field of macro-economics (Macro-ec and Ec Policy) (3.i.3) Integrates sustainability values in the analysis of topical (business) economic problems and proposes solutions that take into account these values (12.d) Can describe the main causes of development and underdevelopment (12.d.1) Understands the environmental impact of economic growth and can analyse the economy in a sustainable framework (12.d.2) Evaluatest the impact of technological progress on inequality (12.d.3) In his/her thinking and acting the student shows attention for the environment, man, and society and develops a critical attitude towards these topics: is aware of main causes and consequences of underdevelopment and the impact of economic development on e.g. the environment.