This course enables students to understand how the economy operates in a complex world, and how macroeconomic policies operate to affect the domestic and foreign economies. After this course, students could be able to utilize these models to analyze various economic issues in a systematic and scientific way. Fundamental and essential macroeconomic models, such as the goods and financial markets, the IS-LM and AD-AS model, their theoretical background and applications in the closed and open economy, the labor market, exchange rate regimes and the unemployment issue will be discussed in this course.

CILO-1: Interpret the relationships among market participants in macroeconomy. CILO-2: Explain fundamental macroeconomic models and theories, and apply them to analyze important macroeconomic issues qualitatively and quantitatively. CILO-3: Critically assess effects of government policies both in theory and in practice.