Macroeconomic Principles

Macroeconomics treats the working of the economy on an aggregate level, i.e. a nation, a wider area of economic activity such as the EU, or even the world as a whole. The course introduces the basic macroeconomic concepts and measures of economic activity such as the national accounts for GDP, consumption, investment and international trade, and measures for unemployment, inflation etc. These concepts are used to analyze the development of the national and international economy. The long run analysis treats how production technology and the available capital stock and labor force combine to determine equilibrium levels of important economic variables such as production and growth. Markets of special importance for macroeconomic performance, such as the labor market and financial markets, are covered. International trade and international finance is treated with an emphasis on the perspective of a small open economy such as Sweden.