Explore our knowledge

Macro­economics and European Eco­nom­ic In­teg­ra­tion

About the course

Subjects
Microeconomics Macroeconomics International economics

Course content

This course offers an introduction to macroeconomic analysis. This includes the theory of output and interest rate determination; the relationship between goods and financial markets; the relationship between employment and inflation; the role of fiscal and monetary policy; and, not least, international economic relations. The course has a distinctively European focus, as it relates macroeconomic analysis to issues relevant to the European economy, such as (i) the costs and benefits of the European Monetary Union, (ii) the key monetary policy arrangements and inflation targeting in the Eurozone , (iii) the conduct of fiscal policy and the debates over government debts in the EU

See course description in course catalogue

What you will learn

After ending the course, the students should be able to:

  • Present the IS-LM and IS-LM-PC theoretical frameworks and explain how output and the interest rate are determined in the short and medium-run.
  • Describe the conduct of fiscal and monetary policies in closed economy and explain how these policies are impacted by openness to trade and financial flows.
  • Explain the Phillips curve and discuss the relation between GDP, unemployment and inflation.
  • Understand the concept of common currency area and describe its benefits and costs, both theoretically and in the case of the Eurozone.
  • Understand the current macroeconomic policy debates in the European Union.

Course prerequisites

No prerequisites in economics are required. The technical level required by the course is modest but basic math will be used in this class. More precisely, we will make extensive use of elementary algebra.

Facts

Level
Bachelor
Type
Mandatory course – also offered as elective
ECTS
7.5
Code
BE­BUO1022U
Teaching periods
Spring – semester
Academic year
2024/2025
Status
Available places
Teaching language
English
Teaching Format
On campus
Exams
  • Written exam on campus
    Individual exam, summer
Assessment type
  • 7 point grading scale