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Module name (EN): Macroeconomics
Degree programme: International Business, Bachelor, ASPO 01.10.2017
Module code: BIBW-350
SAP-Submodule-No.: P420-0204
Hours per semester week / Teaching method: 4VU (4 hours per week)
ECTS credits: 5
Semester: 3
Mandatory course: yes
Language of instruction:
Written exam (90 minutes / can be repeated semesterly)

[updated 14.03.2018]
Applicability / Curricular relevance:
DFIM-407 (P620-0109) German-French and International Management, Bachelor, ASPO 01.10.2019, semester 4, mandatory course
BIBW-350 (P420-0204) International Business, Bachelor, ASPO 01.10.2013, semester 3, mandatory course
BIBW-350 (P420-0204) International Business, Bachelor, ASPO 01.10.2017, semester 3, mandatory course
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 150 hours (equivalent to 5 ECTS credits).
There are therefore 105 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
BIBW-120 Microeconomics

[updated 14.03.2018]
Recommended as prerequisite for:
BIBW-610 Foreign Trade and Payments
BIBW-623 Economic Policy (compulsory elective module 2)

[updated 22.02.2018]
Module coordinator:
Prof. Dr. Leonhard Firlus
Prof. Dr. Leonhard Firlus

[updated 26.02.2018]
Learning outcomes:
After successfully completing this module, students will:
1. know and be able to explain the basic principles of national accounts.
2. be able to explain key macroeconomic variables such as the gross domestic product and place them in a macroeconomic context.
3. be able to explain the components and determinants of macroeconomic supply and demand.
4. be able to explain the price formation on the labor market and classify the determinants of macroeconomic supply;
5. be able to outline the principles of the European Central Bank´s monetary policy;
6. be able to explain the interplay between aggregate demand and aggregate supply on the supply and demand side.

[updated 14.03.2018]
Module content:
1.        National income accounting
2.        The neoclassical macro model
3.        Inflation
4.        The European Central Bank
5.        The Keynesian Theory
6.        Price formation in the labor market and aggregate supply
7.        The Phillips Curve
8.        Medium term macro model with a flexible price level
9.        Alternative consumption functions

[updated 14.03.2018]
Teaching methods/Media:
Lecture and exercises

[updated 14.03.2018]
Recommended or required reading:
Blanchard, Olivier/Johnson, David R.: Macroeconomics, Upper Saddle River, latest edition
Brümmerhoff, Dieter: Volkswirtschaftliche Gesamtrechnungen, München/Wien, latest edition.
European Central Bank: The implementation of monetary policy in the euro area, Frankfurt, latest edition.
Felderer, Bernhard/Homburg, Stefan: Macroeconomics and New Macroeconomics, Berlin, latest edition.
Mankiw, Gregory N.: Macroeconomics, London/New York, latest edition.

[updated 14.03.2018]
[Sat Jul  2 22:19:24 CEST 2022, CKEY=imo, BKEY=ibw3, CID=BIBW-350, LANGUAGE=en, DATE=02.07.2022]