Introduction to Economics 2Laajuus (3 ECTS)

Objective

Upon completing this course the student will:
- Understand the impact of economic policy on consumers, firms and industries
- Understand the economic role of the state
- Understand the relationships between macroeconomic variables
- Understand official statistical data
- Understand the influence of international factors on domestic performance
Students will be able to
- Explain key concepts and ideas of economics
- Interpret critically economic surveys and forecasts
- Evaluate economic policy measures and their impact on market actors
- Define the main ideas behind economic policy measures

Content

ntroduction to macroeconomics
- National income and the circular flow
- Taxation, government spending, and fiscal policy
- Money, interest, and monetary policy
- Supply side policies
Keynesian, monetarist and alternative theoretical approaches
International trade
Balance of payments and exchange rates
Relating economic theory and concepts to the business environment; understanding the economic role of the state

Qualifications

English Language Proficiency

Assessment criteria, satisfactory (1)

Sufficient performance: showing just enough understanding of the subject to merit a pass grade but requiring greater effort to achieve a more satisfactory result

Assessment criteria, good (3)

Good performance: showing strong understanding of basic concepts and good grasp of techniques, but with certain minor problems still requiring further attention

Assessment criteria, excellent (5)

Excellent performance: not only fulfils all standard requirements but demonstrates originality and imagination