Sole Proprietorship

6.3         Macroeconomics

Course description

Macroeconomics for IBA has been developed for business students. However, it is quite similar to a typical macroeconomics course in an economics program. The topics that are covered have been selected because of their importance for decision-makers in the business world. The course consists of two main parts: long-run macroeconomics and short-run macroeconomics. Specifically, the course covers the following topics:

Week 1         The Science of Macroeconomics (chapter 1, handbook of Mankiw)

Week 2        The Data of Macroeconomics (chapter 2)

Week 3        National Income: Where It Comes From and Where It Goes (chapter 3)

Week 4        The Monetary System: What It Is and How It Works (chapter 4) + The Financial System: Opportunities and Dangers (chapter 20)

Week 5        Inflation: Its Causes, Effects and Social Costs (chapter 5)

Week 6        The Open Economy (chapter 6)

Week 7        Unemployment (chapter 7)

Week 8        Introduction to Economic Fluctuations (chapter 10)

Week 9        Aggregate Demand I: Building the IS-LM model (chapter 11)

Week 10        Aggregate Demand II: Applying the IS-LM model (chapter 12)

Week 11        The Open Economy Revisited: The Mundell-Fleming Model and the Exchange Rate Regime (chapter 13, first part)

Week 12        The Open Economy Revisited: The Mundell-Fleming Model and the Exchange Rate Regime (chapter 13, second part)

Course objectives

The course Macroeconomics for IBA is targeted at future executives, business consultants, and other future decision-makers in the business world. The main goals of the course are: