Economics II

At the end of this learning unit, the student is able to :

• define and explain the main macroeconomic concepts and aggregates, particularly those relating to the measurement of (changes in) economic activity and prices, employment and unemployment.
• Explain how these concepts are constructed and measured, and what their advantages and limitations are
• Use these concepts in application exercises
• Carry out simple data analysis in relation to these concepts: this means being able to
  • search for data relating to these concepts in a given country,
  • manipulate and transform them using excel software
  • present and comment on them in a relevant form in a brief report
• Identify and explain key relationships that may exist between different macroeconomic variables
• Use simple graphical and/or algebraic versions of macroeconomic models (such as the aggregate supply aggregate demand model or the Solow model) which formalise these relationships: this means being able to
  • explain the assumptions of these models and their roles
  • identify and discuss the results put forward by these models
  • use them to study the consequences of shocks or macroeconomic policies
  • use them to discuss topical issues