Description
In this course, students will learn the basic principles of macroeconomics that are required to develop and analyze public policy. The course will begin with an overview of basic macroeconomic concept – gross domestic product.
Students will study the main components of the national accounts system, links between macroeconomic aggregates and economic sectors, the difference between nominal and real indicators.
During the course, students will explore how to achieve balance in economy through interaction of cumulative supply and demand, examine classical and Keynesian views on the economy, analyze the interaction of macroeconomic variables in short and long term perspective – output, employment and unemployment, consumption, savings and investments, money and interest rates, analyze factors of economic growth and business cycles, specifics of the open economy. Students will also learn the essential tools of fiscal and monetary policy.
