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Course Description: 

Macroeconomics analyze the economy as a whole (national or domestic product, consumption, savings, investment, employment, prices etc). The main focus is on the mechanisms which determine the level of product, (un)employment, and prices in a national economy, as well as on state intervention at the macro level (fiscal and monetary policy). Special emphasis is given to the internationalization of economic relationships and their consequences for the capacity of the state to manage a national economy.

Learning Outcomes

By the end of this course, students will be able to:

- Understand the main principles of macroeconomics

- Recognize the main approaches in macroeconomics

- Apply the above theoretical tools in contemporary macroeconomic problems

Lectures Outline

1. Introduction - Measuring prices and unemployment

2. Measurement and components of GDP

3. Aggregate demand and aggregate supply

4. The classical theory of self-regulated economy

5. The Keynesian critique of self-regulated economy

6. Government budget and fiscal policy

7. Money and the banking system

8. Money, interest rates and the economy

9. Monetary policy

10. Balance of payments and exchange rates.


Recommended Reading:

1. R.A. Arnold (2007): Economics, Epikentro Ed., Thessaloniki (in Greek).

2. Mankiw G.N. & Taylor M.P. (2018), Economics, 2st Volume: Macroeconomics, Athens: Tziola Publ., 4th English Edition (in Greek).

3. P. Krugman & R. Wells (2009): Macroeconomics, Epikentro Ed., Thessaloniki (in Greek).

4. J.E. Stiglitz & C.E. Walsh (2009): Principles of Macroeconomics, Papazissis Ed., Athens (in Greek).