MacroeconomicsModule Details

Course/Module Description:

Macroeconomics aspect of the economy focuses on the economy as a whole, looking at goals such as the growth of a country regarding the standards of living, unemployment and inflation. Also Macroeconomics are divided into main types of policies: the monetary and fiscal policies, which are the main interest of study during this course.

Course/Module Objectives:

The main objectives of the course are:

1. To introduce the main macroeconomics variables (GDP, inflation, unemployment)
2. To understand the aggregate demand – aggregate supply model
3. To distinguish between inflation and unemployment
4. To identify the fiscal and monetary policy tools
5. To introduce the balance of payment and exchange rates

Course/Module Learning Outcomes:

After completion of the course students are expected to be able:

1. To measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payments, exchange rates)
2. To analyze the aggregate demand – aggregate supply model, the concept of the multiplier and the business cycle
3. To identify the tools of monetary and fiscal policies, understand their effect on the economy and appreciate the significant role of the Central Bank
4. To explain the importance balance of payments, international trade and how the value of foreign exchange is determined