Students have a well-founded understanding of macroeconomics and international trade. Their knowledge of macroeconomic models and international trade theory allows them to evaluate when such models are to be used and to discuss outcomes of such models in light of recent economic developments. Students are able to assess current topics in economic policy and in international trade policy and discuss the resulting impact for businesses and society.

• National accounts and balance of payments
• Short term models with flexible and fixed prices
• External shocks to an economy
• Possible policy measures in order to stabilize an economy and limits of such instruments
• Basic principles of growth theory
• Models in international trade theory
• The impact of different trade policy instruments

• Mankiw, N.G.: Macroeconomics, 2015, 9. Auflage, Worth Publishers
• Blanchard, O., Johnson, D.R.: Macroeconomics, 6. Auflage, 2012, Pearson
• Carbaugh, R.: International Economics, 2014, 15. Auflage, South Western Education
• Dornbusch, R., Fischer S., Startz, R.: Macroeconomics, 2013, 12. Auflage, McGraw-Hill
• Krugman, P., Obstfeld M.: International Economics, 2014, 10. Auflage, Pearson Addison-Wesley

5 ECTS x 30 hours = 150 hours, combined out of the following:

• Course attendance: 60 hours
• Preparation / homework / self-study : 20 hours
• Time for exercises and group work: 45 hours
• Exam preparation: 25 hours
• Exam time: 90 minutes

• Interactive classes
• Exercises
• Case studies