The objective of the course is to provide the students with the necessary background to understand macroeconomic aggregates and have a solid background in understanding the mechanisms underpinning the macroeconomy. The course starts with the analysis of the core theoretical models used in macroeconomics, for both closed and open economies. Then, we study how to make use of the theries to enhance understanding of real-world macroeconomic experiences (especially involving macroeconomic policy).