The course is structured in two main parts.

The first part is concerned with Microeconomics, where the students will learn how markets and governance structures organize core economic activities, such as production, distribution, and consumption, and the growth of productive resources.
Upon completion of this part students will be able to identify and explain economic concepts and theories related to the behavior of economic agents, markets, industry and firm structures, and government policies. Moreover, students will be able to integrate theoretical knowledge with quantitative evidence in order to explain main economic events. Students will be able to evaluate the consequences of economic activities and institutions for individual and social welfare.


The second part is concerned with Macroeconomics, where the students will learn about the determinants of macroeconomic conditions (national output, employment, inflation), causes of business cycles, and interactions of monetary and financial markets with the real economy, familiarizing themselves in the process with major economic theories of relevance.

Upon completion of the second part students will be able to identify the determinants of various macroeconomic aggregates such as output, unemployment, inflation, productivity and the major challenges associated with the measurement of these aggregates. They will be able to discuss the linkages between financial markets and the real economy, and how these linkages influence the impact of economic policies over differing time horizons.
Moreover, students will be able to describe the main macroeconomic theories of short term fluctuations and long term growth in the economy and they will be able to critically evaluate the consequences of basic macroeconomic policy options under differing economic conditions within a business cycle.