The course is composed of theoretical and factual contents. Its objective is to provide the students with the Microeconomic theories at intermediate level and it is combined with the historical background of the European Union, the rise of the integration and also a general picture about the European Union today. The core of the theoretical part falls onto the IS-LM as well as the AD-AS model while the students should understand how the economic policies function.

CILO-1: Identify basic macroeconomic indicators: output, inflation, unemployment and others related and explain their inter-relations. CILO-2: Differentiate the concepts between nominal and real figures. CILO-3: Explain the functions of money, international currency and the money creation process. CILO-4: Discuss major components of balance of payment and the economic connection between countries. CILO-5: Discuss and evaluate the potential outcomes on aggregate measurements under fiscal and monetary policy or policy mix through illustration of static economic models.