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Macroeconomics

Module name (EN):
Name of module in study programme. It should be precise and clear.
Macroeconomics
Degree programme:
Study Programme with validity of corresponding study regulations containing this module.
International Business, Bachelor, ASPO 01.10.2020
Module code: IBB-350
SAP-Submodule-No.:
The exam administration creates a SAP-Submodule-No for every exam type in every module. The SAP-Submodule-No is equal for the same module in different study programs.
P420-0251
Hours per semester week / Teaching method:
The count of hours per week is a combination of lecture (V for German Vorlesung), exercise (U for Übung), practice (P) oder project (PA). For example a course of the form 2V+2U has 2 hours of lecture and 2 hours of exercise per week.
4V (4 hours per week)
ECTS credits:
European Credit Transfer System. Points for successful completion of a course. Each ECTS point represents a workload of 30 hours.
5
Semester: 3
Mandatory course: yes
Language of instruction:
English
Assessment:
Written exam (90 minutes / can be repeated semesterly)

[updated 25.11.2019]
Applicability / Curricular relevance:
All study programs (with year of the version of study regulations) containing the course.

IBB-350 (P420-0251) International Business, Bachelor, ASPO 01.10.2020 , semester 3, mandatory course

Suitable for exchange students (learning agreement)
Workload:
Workload of student for successfully completing the course. Each ECTS credit represents 30 working hours. These are the combined effort of face-to-face time, post-processing the subject of the lecture, exercises and preparation for the exam.

The total workload is distributed on the semester (01.04.-30.09. during the summer term, 01.10.-31.03. during the winter term).
60 class hours (= 45 clock hours) over a 15-week period.
The total student study time is 150 hours (equivalent to 5 ECTS credits).
There are therefore 105 hours available for class preparation and follow-up work and exam preparation.
Recommended prerequisites (modules):
IBB-140 Applied Business Mathematics
IBB-230 Business Statistics


[updated 26.06.2025]
Recommended as prerequisite for:
IBB-460 International Economics


[updated 26.06.2025]
Module coordinator:
Prof. Dr. Markus Hertrich
Lecturer:
Prof. Dr. Markus Hertrich


[updated 10.03.2020]
Learning outcomes:
 
After successfully completing this course, students will:
- be familiar with and can explain the basic principles of national accounts..
- be able to explain key macroeconomic variables such as the gross domestic product and place them in a macroeconomic  context.
- be able to identify and compare the components and determinants of macroeconomic supply and demand.
- be able to explain the price formation on the labor market and classify the determinants of macroeconomic supply.
- be able to outline the principles of the European Central Bank’s monetary policy.
- be able to illustrate how the Keynesian IS-LM model works to manage aggregate demand.
- be able to explain the interplay between macroeconomic demand and macroeconomic supply using the neoclassical model.

[updated 10.03.2020]
Module content:
1.  Introduction
2.  National Income Accounting
3.  Inflation
4.  The European Central Bank
5.  The Keynesian Macro Model
6.  Price Formation in the Labour Market and Aggregate Supply
7.  The Phillips Curve
8.  Medium Term Macro Model with a Flexible Price Level
9.  The Neoclassical Theory
10. Alternative Consumption Functions
 
 


[updated 05.12.2019]
Teaching methods/Media:
Lecture and exercises

[updated 04.02.2020]
Recommended or required reading:
Main: Blanchard, O., A. Amighini, and F. Giavazzi: Macroeconomics, a European Perspective. Pearson, latest edition.
 
Other:
- European Central Bank: The implementation of monetary policy in the euro area, Frankfurt, latest edition.
- Felderer, Bernhard and S. Homburg: Macroeconomics and New Macroeconomics. Springer, latest edition.
- Lequiller, François and D. Blades. Understanding National Accounts. OECD Publishing, latest edition.
- Mankiw, G.N.. Macroeconomics. Macmillan Learning, latest edition.
 


[updated 26.06.2025]
 
[Mon Jun 30 23:40:24 CEST 2025, CKEY=imv, BKEY=ibw4, CID=IBB-350, LANGUAGE=en, DATE=30.06.2025]