The aim of this module is to provide the student with a basic introduction to economic theory, including an understanding of the economic system and the general economic policies in Danish and international economics.
The module is based on the understanding of the macroeconomic system, where the individual elements are reviewed. Including key concepts such as GDP and economic growth, inflation and unemployment, interest rates and exchange rates and their impact on business. The module reviews general economic theories and three main models for analysing the economy; first in the short term, then in the medium term and finally in the long term. These include: the commodity market model for an open and closed economy, the IS-LM model for an open and closed economy, the IS-LM-PC model and an introduction to Solow's growth model and determinants of economic growth.
The models are then used to understand how macroeconomic shocks and changes in economic policy in Denmark and internationally affect the economy and business in the short, medium and long term for an open economy with fixed and floating exchange rates, respectively.
The objective is that the student after the module possesses the necessary knowledge on:
The objective is that the student after the module possesses the necessary skills in:
The objective is that the student after the module possesses the necessary competences in:
For information see § 17.
|Name of exam
|Type of exam
Written or oral examIndividual examination.
|7-point grading scale
|Type of grading
|Criteria of assessment
|The criteria of assessment are stated in the Examination Policies and Procedures
|Language of instruction
|Location of the lecture
|Responsible for the module
|Study Board of Economics and Business Administration
|Aalborg University Business School
|Faculty of Social Sciences and Humanities