Principles of Economics

Description

The course is designed to give students the basic tools required for an understanding of economic theory and thinking in the fields of micro and macroeconomics. Microeconomics is a field that deals with the analysis of decision-making by consumers, firms and government and the system of mutual relations between them. In the second part of the course dealing with macroeconomics, we will learn about the structure of the economy and present the main markets that are important for macroeconomic activity: the product market and the money market. We will examine how these markets reach equilibrium within the framework of Keynes' model for understanding business cycles. We will learn about the main policy tools available to economic policy makers to stabilize business cycles in the economy - the monetary tool and the fiscal tool.