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 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 market surveys and economic forecasts
- Evaluate economic policy measures and their impact on market actors
- - Define main ideas behind economic policy measures

Content

Introduction 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