Principles of MacroeconomicsModule Details

The rationale behind every module is to offer the student all possible knowledge in each module of the course, in order to be able to deepen their understanding and render them capable of practically applying it. Macroeconomics introducesthe student to their main variables and the aggregate demand – aggregate supply model, as well as the balance of payment and exchange rate. In addition, the module offers explanationsforinflation,unemployment and fiscal and monetary policy tools.

After completion of the course students are expected to be able to:
Measure economic variables (GNP and its components, inflation, unemployment, money supply, balance of payments, exchange rates)
Analyze the aggregate demand – aggregate supply model, the concept of the multiplier and the business cycle
Identify the tools of monetary and fiscal policies, understand their effect on the economy and appreciate the significant role of the Central Bank.
Explain the importance balance of payments, international trade and how the value of foreign exchange is determined