Course content

This course will cover the basics of macroeconomics as a basis for understanding the complex interdependencies of the international economic system:

The core contents include:
[1] National Accounts
[2] Macroeconomic indicators
[3] Economic context of the short and medium term (labor market, goods market, money and financial markets): IS-LM model and AS-AD model
[4] National economic context of the long term
[5] Economic policy: fiscal and monetary policy, structural policies

The course is completely held as a blended learning course to promote the digital skills of the participants and the flexibility of the time.
The language of instruction is English.

Learning outcomes

After completing the International Economic System module, students will be able to understand macroeconomic connections, analyze the impact of economic policies on macroeconomic indicators, have basic knowledge of monetary policy instruments, understand the linkages of the international monetary system; understand the functioning of stock exchanges and are able to independently construct indices for the aggregation of market data. Moreover, students are familiar with the legal framework for securities and capital markets.

Recommended or required reading and other learning resources / tools

Literature: Blanchard, O. und Illing, G.: Makroökonomie, München: Pearson Studium;
Mankiw, G.N.: Makroökonomik;
Samuelson/Nordhaus: Economics;

Mishkin: The Economics of Money, Banking, and Financial Markets;
Mishkin, Eakins: Financial Markets and Institutions;
Krugman, Obstfeld: Internationale Wirtschaft;
Blanchard/Illing: Makroökonomie;
Bofinger et al: Geldpolitik;
Gantenbein/Spremann: Finanzmärkte.
Holtemöller: Geldtheorie und Geldpolitik

Aicher/Schuhmacher, Wertpapierrecht;
Grünwald/Schummer, Wertpapierrecht;
Roth, Grundriß des österreichischen Wertpapierrechts;
Brandl, et al.: Handbuch Kapitalmarktrecht;

Mode of delivery

Prerequisites and co-requisites

Fundamentals of the finance, banking and insurance industries; Quanitative fundamentals, financial, banking and insurance products

Assessment methods and criteria

partial exam and final exam

Macroeconomics

Lecture, 3.00 ECTS