Open to all candidates
No prerequisites
In the first part of this course, students will develop simple graphical and mathematical models of decision-making by individual economic agents: consumers, workers, and businesses. They will analyze interactions between these agents in product and factor markets using concepts of market demand, supply, and equilibrium. Finally, we demonstrate the efficiency of perfectly competitive markets, describe the conditions under which that efficiency arises, and examine market failures that occur when those conditions are not met.
The second part of the course explores how GDP, inflation, unemployment, and other macroeconomic aggregates are measured in practice. The second part develops analytical models of macroeconomic performance and growth in the long run. This part also focuses on short-run (business-cycle) fluctuations and fiscal and monetary policies.
Unit 1: Supply and Demand
Unit 2: Elasticity and its applications
Unit 3: Supply-demand and government policies
Unit 4: Efficiency of Markets
Unit 5: Theory of the Firm
Unit 6: Measuring a nation's income
Unit 7: Unemployment
Unit 8: The Monetary system
Unit 9: Aggregate Demand and Aggregate Supply
At the completion of this course, students will be able to:
1. Identify the microeconomic foundations of the macroeconomy and explain how these foundations inform the performance of the macroeconomy.
2. Identify essential measures for assessing micro- and macroeconomic performance.
3. Explain contemporary theories of economic growth, evaluate these theories in light of economic performance, and apply one or several of the theories to predict economic performance.
4. Describe component elements in micro and macro theory.
5. Elucidate the full aggregate demand/aggregate supply model and explain its origins, uses, and limitations.
6. Develop a full model illustrating the connection of the financial sector to the micro- and macroeconomy and describe the components of the financial sector, how they have evolved, and what factors have influenced their evolution. –
7. Analyze and evaluate alternative models explaining the role of fiscal and monetary policy in domestic and international macroeconomics.
The online delivery blends synchronous and asynchronous components. Students complete self-directed assignments hosted on the course platform. Weekly Forums support a required active, rubric-based student contributions that foster collaboration
Exams may include essays, short answers, or MCQs. Formats include open/closed book. Time zones are considered. Assessments are formative and summative. Students have 2 weeks to review grades and must follow the appeal process in the Student Handbook.
Certificate
Please note that there are three semesters as intake periods as noted on the academic calendar.Scholarship Awarded (Total Fee: €100)
Registration is done online.
