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Module name (EN): Macroeconomics
Degree programme: International Tourism-Management, Bachelor, ASPO 01.10.2017
Module code: BITM-350
Hours per semester week / Teaching method: 4V (4 hours per week)
ECTS credits: 5
Semester: 3
Mandatory course: yes
Language of instruction:
Written exam (90 minutes / Can be repeated semesterly)

[updated 17.09.2018]
Applicability / Curricular relevance:
BITM-350 International Tourism-Management, Bachelor, ASPO 01.10.2013, semester 3, mandatory course
BITM-350 International Tourism-Management, Bachelor, ASPO 01.10.2015, semester 3, mandatory course
BITM-350 International Tourism-Management, Bachelor, ASPO 01.10.2017, semester 3, mandatory course
BITM-350 International Tourism-Management, Bachelor, ASPO 01.10.2020, semester 3, mandatory course

Suitable for exchange students (learning agreement)
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):
Recommended as prerequisite for:
BITM-520 Foreign Trade and Payments

[updated 27.05.2020]
Module coordinator:
Prof. Dr. Leonhard Firlus
Lecturer: Prof. Dr. Leonhard Firlus

[updated 26.06.2017]
Learning outcomes:
After successfully completing this module, students will:
1.        know and be able to explain the basic principles of national accounts;
2.        be able to explain key macroeconomic variables such as the gross domestic product and place them in a macroeconomic context;
3.        be able to explain the components and determinants of aggregate demand;
4.        be able to explain the price formation on the labor market and classify the determinants of macroeconomic supply;
5.        be able to outline the principles of the European Central Bank´s monetary policy;
6.        be able to explain the interplay between aggregate demand and aggregate supply on the supply and demand side.

[updated 21.03.2018]
Module content:
1.        Introduction
2.        National income accounting
3.        The neoclassical macro model
4.        Inflation
5.        The European Central Bank
6.        The Keynesian Macro Model
7.        The Phillips Curve
8.        Alternative consumption functions

[updated 21.03.2018]
Teaching methods/Media:
Lecture and exercises

[updated 21.03.2018]
Recommended or required reading:
Blanchard, Olivier/Johnson, David R.: Macroeconomics, Upper Saddle River, latest edition
Brümmerhoff, Dieter: Volkswirtschaftliche Gesamtrechnungen, München/Wien, latest edition.
European Central Bank: The implementation of monetary policy in the euro area, Frankfurt, latest edition.
Felderer, Bernhard/Homburg, Stefan: Macroeconomics and New Macroeconomics, Berlin, latest edition.
Mankiw, Gregory N.: Macroeconomics, London/New York, latest edition.

[updated 21.03.2018]
[Sat Jan 22 12:41:20 CET 2022, CKEY=imm, BKEY=itm4, CID=BITM-350, LANGUAGE=en, DATE=22.01.2022]