Introduces basic concepts and principles of macroeconomics including: The functioning of a modern market economy; the determination of national income and its distribution; the composition of output; growth role of governments; spending, regulation, taxation and fiscal policy. Theories for the determination and evolution of macroeconomic aggregates such as GDP, unemployment rates, inflation rates, and rates of interest.Macroeconomic theories and models, their assumption, their applications, their limitations and distinctions.Business cycles, sources of economic growth, fiscal and monetary policies.Different schools of thought, e.g. the Classical and Keynesian schools and their approaches to the above topics.Application of macroeconomic concepts to specific cases and to critically assess economic policies.
