Basic Macroeconomic Theory

Macroeconomics is the study of aggregate economic phenomena, the economy as a whole. Therefore, this course focuses on the following components: savings, consumption, investment, and international factors at the aggregate level as determinants of national output and the price level, which are closely related to inflation and unemployment rates. This course will examine how to model the relationship between these aggregate economic performance and discuss the impact of government policies (fiscal and monetary) or external shocks on the economy. This course offers a Mainstream partial general equilibrium approach to modern macroeconomic theory, which boils down to 'long-run growth with short-run economic fluctuations under the assumption of the classical dichotomy'.