By the end of this course, the students will be able to
- understand macroeconomic aggregates and have a solid background in understanding the mechanisms underpinning the macroeconomy;
- analyze the core theoretical models used in macroeconomics, for both closed and open economies, and use them to enhance understanding of real-world macroeconomic experiences (especially involving macroeconomic policy);
- develop a solid grasp of macroeconomic analysis at the intermediate level using both graphical and algebraic techniques;
- develop skills to critically evaluate explanations of economic outcomes in this framework and policy success on both a theoretical and empirical basis;
- understand theoretical models which are used to explain the behavior of the aggregate economy in the short-, medium-, and long-run and gain the ability to use these models to answer questions about the impact of shocks and of macroeconomic policy on a small open economy.
- understand the response of policy makers to macroeconomic issues and expectations;
- retrieve macroeconomic data from statistical sources using the internet or the library;
- perform basic statistical analysis with macroeconomic data using Excel.