This course covers the main principles of economic policy, monetary and fiscal policy and other relevant topics. We will learn the main features of the market mechanism and explain how and why market and government failures occur. We  aim to explore and understand why monetary policy matters and how the actions of the central bank affects inflation, prices and GDP.  We also  will explore and explain fiscal policy and government interventions and their economic effects.  Furthermore, in our weekly discussions we will analyze topics that are currently part of heated debates and we will seek to explain the different views behind them. 

After completing this course, students will have an understanding of the basic interplay between markets and governments. They will understand the strengths and weaknesses of markets: What do markets provide (efficiently) that governments do not? What do markets fail to provide that the government must? What tools does the government have to affect markets, or correct for them? After the course, students will be able to answer these questions generally and thematically.  In the second part of the course, questions about the implications of monetary and fiscal policies for welfare, economic growth and labour market outcomes will be explored. The course aims to give students a good understanding not only of theoretical and empirical evidence, but also to enable them to understand everyday news from an economics point of view.

Attendance is mandatory, with no more than two unexcused absences allowed. Unexcused absences will result in a lower participation grade. Students who are absent are responsible for all the material covered during lecture on the day of the absence, as well as for turning in any due assignments and a summary of the readings.

Lecture, readings, video, analytical exercises of course topics.
Course instruction in English.

The course consists of lectures given by the lecturer and short discussions and presentations by the students on a number of chosen topics. The first two lectures are given by the lecturer. Selection of the topics for the presentations during the semester will happen in the first two lectures. Final exam in the last unit in the end of the term.

The course grade consists of the following elements:

1. Participation in the course discussions (30%)

2. Group Project (short presentation and argumentation) (30%)

3. Final exam  (40%)

A positive result in the final exam, is a necessary precondition for a positive result in the course.

Foundations to Macroeconomics & basic understanding of the market mechanism, government interventions and macroeconomic policy. After the registration period, students from the waiting list, who don't yet have a valid registration, will be assigned to available places in the specific courses. This allotment is not based on a first-come first-served principle.Rather, progress in the studies will be the decisive criterion. Places of students who don't show up at the first lesson will be distributed among not registered students based on their position on the waiting list.