Fourth semester - Zagreb School of Economics and Management

Fourth semester

This course covers basic macroeconomic theory, and covers the following key concepts: Macroeconomic variables and relations between them, Goods and services marked, the financial market, and the labor market, Aggregate supply and demand, the open economy – international trade, exchange rates, balance of payments, interest rate parity, and the influence of expectations on macroeconomic aggregates. These theoretical concepts will be applied through case studies pertaining everyday economic life in Croatia and abroad, and students will engage in discussions on recent local and global macroeconomic developments. This course completes the series four basic economic courses which students must take in their first two years in the undergraduate program.

The goal of this course is to introduce students to concepts that will help them understand how the state influences business and the overall economy. Topics covered in this course include: public goods, economic function of the government, economic reasons which justify and explain state intervention in the economic sector, and the main effects of fiscal policy.Students will also become familiar with the process of state budget creation, the distinction between government revenues and expenditures, and they will gain understanding in procedures for financing of government budget and public debt. After taking this course, students will understand the principles of public finance, and will be able to analyze the interaction of fiscal policies with the private sector.

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