Knowledge

The student...

has knowledge about how households determine consumption
has knowledge about how firms determine input factor demand
has knowledge about how firms determine final-good supply
has knowledge about monopoly
has knowledge about theories in long-run macro, as the theory of structural unemployment and economic Growth
has knowledge about theories on business cycles and short-run stabilization policies
has knowledge about inflation, its causes and how it is affected by economic policy

Skills

The student...

can derive the optimal equilibrium and behavior for consumers and firms
can analyze how consumers and firms are affected by changes in the economic environment
can derive the optimal behavior of a monopoly firm
can analyze macroeconomic problems by using mathematical and graphical presentations, and derive how changes in aggregate demand affects economic fluctuations in production (multiplier theory)
can analyze and evaluate how macroeconomic policy can be used to stabilize the economy, in particular fiscal and monetary policy
can analyze the labor market and how it works related to the final-good market, to understand business cycles
can analyze business cycles and inflation within the same model framework

General competence

The student...

is able to present important economic connections
is able to understand basic economic policy and its implications
is able to understand how economic reasoning can be used to study the behavior of consumers and firms, and how the economy works at a macro level

Subject description 6274

Economics II