Prerequisite: An introductory course in Economics is required to sign up for this course. Number of participants limited to 30. MSc STP students have priority.
This course examines the behaviour of macroeconomic variables, such as gross domestic product, unemployment and inflation rates. It tries to answer questions like: How can we explain fluctuations of national economic activity? What can economic policy do against unemployment and inflation?
Learning objective
This lecture will introduce the fundamentals of macroeconomic theory and explain their relevance to every-day economic problems.
Content
This course helps you understand the world in which you live. There are many questions about the macroeconomy that might spark your curiosity. Why are living standards so meagre in many African countries? Why do some countries have high rates of inflation while others have stable prices? Why have some European countries adopted a common currency? These are just a few of the questions that this course will help you answer. Furthermore, this course will give you a better understanding of the potential and limits of economic policy. As a voter, you help choose the policies that guide the allocation of society's resources. When deciding which policies to support, you may find yourself asking various questions about economics. What are the burdens associated with alternative forms of taxation? What are the effects of free trade with other countries? How does the government budget deficit affect the economy? These and similar questions are always on the minds of policy makers.
Literature
N. Gregory Mankiw and Mark P. Taylor (2020): Economics, 5th Edition, Cengage Learning. ISBN-13: 978-1-473-76854-3
Competencies
Subject-specific Competencies
Concepts and Theories
assessed
Method-specific Competencies
Analytical Competencies
assessed
Problem-solving
assessed
Personal Competencies
Critical Thinking
assessed
Performance assessment
Performance assessment information (valid until the course unit is held again)
Performance assessment as a semester course