Introduction to the course structure, syllabus explanation and basic principles of macroeconomics.

Market vs. planned economies, review of supply and demand, externalities, and the effects of government interventions.

Understanding GDP, its components, limitations, and how inflation is measured, inequality and its relation to GDP.

Factors that contribute to economic growth, the role of institutions, historical and current economic growth patterns.

How savings and investments function in the economy, their impact on growth, the role of financial institutions.

Understanding unemployment, labor force participation, job creation and the impact of migration on labor markets

(Exam covering material from Weeks 1–6)

Understanding the role of money in the economy, how it is managed, and the causes and consequences of inflation.

Understanding the flow of goods and capital across countries and the effects of open-economy policies.

Understanding aggregate demand and aggregate supply and their roles in business fluctuations and economic cycles.

Theories explaining economic fluctuations and business cycles, historical economic cycles and policy responses.

How central banks manage monetary policy to influence the economy, Federal Reserve and European Central Bank.

The impact of fiscal policy on the economy, understanding the Phillips Curve, policy implications on inflation and unemployment.