BSc in Economics and Business Administration (EBA)

The lectures will convey an understanding of the macroeconomic system and will introduce the individual elements of this. They will include such key concepts as GDP and economic growth, inflation and unemployment, interest rate and exchange rate and the importance of these for a company. The course will present general economic models and theories to analyze the economy in the short, medium and long run. This includes models of the goods market, the relation between labor market and inflation, the IS-LM model, the IS-LM-PC model, and an introduction to the Solow growth model and determinants of economic growth. The equilibrium in the commodity, money and labor markets for an open economy in an international context will constitute a point of departure. Subsequently, the models are used to explain how economic shocks and changes in the economic policy in Denmark and internationally affect the economy (and the individual firm) in the short, medium and long run.