Course Description

Course Name


Session: VVLF3224

Hours & Credits

3 Credits

Prerequisites & Language Level

A high school level of mathematics is required

Taught In English

  • There is no language prerequisite for courses at this language level.


General Goals:
The main objective is that that students acquire knowledge and skills necessary to understand the changing business environment and to learn to handle the tools necessary to understand the basic economic problems: growth and business cycles, inflation and unemployment. It is highly recommended that future professionals incorporate a broad view of macroeconomic environment, considering the opportunities and threats that both in the short and in the long term can be observed and incorporated into the strategic decisions of the company. The general objectives are :
• To measure the macroeconomic figures on production and employment levels, with special emphasis on the aggregation methods and the meaning of each variable.
• Understand how the macroeconomic variables are determined in practice, with particular attention to aggregate production, but also to the general price level.
• Understand the reasons why production tends to grow in the long term (economic growth) separating the phenomenon from the oscillatory motion analysis of production (cycles). A macroeconomic model will be developed, consisting mainly of aggregate demand and aggregate supply, explaining economic fluctuations (cycles) and laying the groundwork for understanding the macroeconomic policy instruments.
• Expand one of the aspects related to aggregate demand: fiscal policy
• Knowledge of the tools of fiscal policy: government spending and taxes. It will measure the effect that both instruments have on aggregate demand and equilibrium output.
• Mastering the concept of the multiplier.
• Know the limitations of fiscal policies for their potential negative effects on investment.
• Analyze in some depth the economic concept of money, going back to its origins and evolution. Particular attention will be paid to the roles played by money and its types throughout history, as well as to the ongoing process of creation of different funds. Finally, we will study the economic impact that the abundance or scarcity of money have on the economy as a whole, as well as tools that policy makers have to increase or reduce the amount of money in circulation (monetary policy).



*Course content subject to change