This course introduces students to the nature and scope of the macroeconomic theory. Basic macroeconomics theory is mixed with useful knowledge regarding how the actual economy operates in the context of households and firms’ decision making. Key topics include: key macroeconomic variables (national output, inflation, unemployment, interest rates and exchange rates), determination of output in the long run and short run; business cycle fluctuations; fiscal and monetary policy; technological dynamics and new models of economic growth