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.
Lecture notes
The course Moodle page contains announcements, course information and lecture slides.
Literature
The set-up of the course will closely follow the book of N. Gregory Mankiw and Mark P. Taylor (2023), Economics, Cengage Learning, 6th Edition.
This book can also be used for the course '363-0503-00L Principles of Microeconomics' (Filippini).
Besides this textbook, the slides, lecture notes and problem sets will cover the content of the lecture and the exam questions.
Competencies
Subject-specific Competencies
Concepts and Theories
assessed
Techniques and Technologies
fostered
Method-specific Competencies
Analytical Competencies
assessed
Decision-making
fostered
Media and Digital Technologies
fostered
Problem-solving
assessed
Project Management
fostered
Social Competencies
Communication
fostered
Cooperation and Teamwork
fostered
Customer Orientation
fostered
Leadership and Responsibility
fostered
Self-presentation and Social Influence
assessed
Sensitivity to Diversity
fostered
Negotiation
fostered
Personal Competencies
Adaptability and Flexibility
fostered
Creative Thinking
fostered
Critical Thinking
assessed
Integrity and Work Ethics
fostered
Self-awareness and Self-reflection
fostered
Self-direction and Self-management
fostered
Performance assessment
Performance assessment information (valid until the course unit is held again)
Performance assessment as a semester course