The course provides students with the basic concepts and theories which facilitate the understanding of how an economy works as a coordinated whole. It aims to provide a simple yet rigorous framework for understanding real macroeconomic events. Students are expected to be able to apply the tools listed in the course in order to analyze relatively simple macroeconomic issues.

After completing this course, students will be able to:

• Reflect the basic concepts and principles of macroeconomics.
• Use different economic indicators and models to explain economic phenomena.
• Assess macroeconomic issues and approach the analysis of the effectiveness of government economic policy.
• Avoid mistakes often made in the popular press about the causes and consequences of long-term growth and economic fluctuations.
• Prepare for more advanced studies in macroeconomics.

Introduction to Macroeconomics. GDP and the CPI. Unemployment and Inflation. Long-Run Economic Growth. Savings, Investment Spending, and the Financial System. Income and Expenditure. Aggregate Demand and Aggregate Supply. Fiscal Policy. Money, Banking, and the Federal Reserve System. Monetary Policy. Inflation, Disinflation, and Deflation. International Macroeconomics.

Lectures (4 hours per week) and Tutorials (2 hours per week)

The overall course grade is the sum of a) the final exam grade plus b) 20 percent of the mid-term exam grade*.

* The above student evaluation method is a pilot one and will be re-examined at the end of academic year 2018-2019.

Use of ICT in teaching and communication with students through the e-class platform.