Explain basic economic categories and concepts related to the macroeconomics, principles and rules incorporated in the complex system of economy at the national level. Introduce economic analysis of aggregate supply and demand, employment, income, and prices. Provide insight into major schools of economic thought; equilibrium in economics based on aggregate supply and demand; inflation and unemployment, economic policy, industrial, fiscal and monetary, fluctuations, and growth; money and banking; stabilization techniques; and international trade. After completing the course students will understand the influence of macroeconomic changes on a company.
Expected learning outcomes
Having successfully completed the course, the students will be able to:
Explain the basic macroeconomic concepts in economics.
List the basic concepts and categories of gross domestic product.
Describe how aggregate variables operate within simple economic models.
Explain economic growth and recognize which elements are crucial driving force of the growth in the national economy.
Interpret the causes of business cycles and their influence on the economy.
Identify negative phenomena in macroeconomics, the causes of unemployment and the positive and negative effects of inflation on the economic system.
Evaluate the role of economic expectations and their effect in the macroeconomics.
Show the specificity of certain forms of economic policy, understand role of fiscal and monetary policy.