After completing this course you will be able to…
- describe and graphically depict central macroeconomic relationships for closed and open economies
- to analyze the effects of various economic policies (e.g. government expenditure increases, interest rate decreases, exchange rate regimes) using the theoretical models taught in this course
- to recognize macroeconomic concepts in other contexts (e.g. economics news, business plans) and to draw adequate conclusions
Additionally, this course enhances...
- analytical skills
- the capacity to depict complex relationships by simple models and to derive action plans
- reasoned phrasing
- the ability to interpret graphs
- handling of numerical data
- time management
Mandatory Attendance:
- two missed units are tolerated (communication not necessary, no "apology")
- more than two missed units: only if the reason is serious (please contact the lecturer!)
The course is an on-campus course. Distance participation is only possible in exceptional cases (such as COVID quarantine).
Teaching and learning methods:
- traditional lectures using slides and whiteboard
- active in-class involvement of students, e.g. in-class discussions, in-class excercises and mini-quizzes
- students' self-guided reading as preparation for each class + homeworks
- written exams
- slides and exercises will be uploaded on learn@wu; material for reading will be specified on learn@wu
Points to achieve (max. 100):
- 20 points: active participation (Quizzes, Homework,...)
- 20 points: mid-term exam
- 60 points: final exam
Grading schedule:
- as of 50 points: Sufficient
- as of 63 points: Satisfactory
- as of 75 points: Good
- as of 88 points: Excellent
Additional prerequisites for a positive grade:
- at least 24 points in the final exam
- at least 15 points in active participation and mid-term exam
Final exam:
- The final exam will take place in the January exam week (the mid-term exam will take place in the mid-term exam week)
There is no alternative! - If the final exam is missed for important reasons (e.g. disease) it must be accompanied by written proof and sent to the lecturer via mail before the exam starts. There will an opportunity to take the final exam before the next term starts.
- If the overall score is negative: Repetition of final exam before the next term starts is possible upon the lecturers decision, if at least 18 points were obtained on the first try of the final exam.
- It is not possible to retake the exam with an already positive grade
Solid knowledge of Contemporary Challenges in Business and Economics
Solid knowledge of Foundations in Microeconomics
after the course meetings; or by appointment; or by mail: fabian.siuda@wu.ac.at