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Module name (EN): Macroeconomics
Degree programme: International Business, Bachelor, ASPO 01.10.2020
Module code: IBB-350
SAP-Submodule-No.: P420-0251
Hours per semester week / Teaching method: 4V (4 hours per week)
ECTS credits: 5
Semester: 3
Mandatory course: yes
Language of instruction:
Written exam (90 minutes / can be repeated semesterly)

[updated 25.11.2019]
Applicability / Curricular relevance:
IBB-350 (P420-0251) International Business, Bachelor, ASPO 01.10.2020, 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):
Recommended as prerequisite for:
IBB-460 International Economics

[updated 02.03.2020]
Module coordinator:
Prof. Dr. Leonhard Firlus
Prof. Dr. Leonhard Firlus

[updated 10.03.2020]
Learning outcomes:
After successfully completing this course, students will:
- be familiar with and can explain the basic principles of national accounts..
- be able to explain key macroeconomic variables such as the gross domestic product and place them in a macroeconomic  context.
- be able to identify and compare the components and determinants of macroeconomic supply and demand.
- be able to explain the price formation on the labor market and classify the determinants of macroeconomic supply.
- be able to outline the principles of the European Central Bank’s monetary policy.
- be able to illustrate how the Keynesian IS-LM model works to manage aggregate demand.
- be able to explain the interplay between macroeconomic demand and macroeconomic supply using the neoclassical model.

[updated 10.03.2020]
Module content:
1.  Introduction
2.  National Income Accounting
3.  Inflation
4.  The European Central Bank
5.  The Keynesian Macro Model
6.  Price Formation in the Labour Market and Aggregate Supply
7.  The Phillips Curve
8.  Medium Term Macro Model with a Flexible Price Level
9.  The Neoclassical Theory
10. Alternative Consumption Functions

[updated 05.12.2019]
Teaching methods/Media:
Lecture and exercises

[updated 04.02.2020]
Recommended or required reading:
- Blanchard, Olivier: Macroeconomics. Pearson: Harlow, 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.
  Springer: Berlin, latest edition.
- Lequiller, François/ Blades, Derek: Understanding National Accounts.
  OECD Publishing: Paris, latest edition.
- Mankiw, Gregory N.: Macroeconomics. Worth: New York, latest edition.

[updated 02.03.2020]
[Thu Aug 18 19:54:34 CEST 2022, CKEY=imv, BKEY=ibw4, CID=IBB-350, LANGUAGE=en, DATE=18.08.2022]