Objective: 
The subject introduces administration students into fundamental concepts of macroeconomics.

Assessment: 
The final grade consists of: exam ( 99 % ), student own work ( 1% ).

Contents: 
Malthusian law of population.

World economic history.

Various theories of growth.

Logic of growth, innovations from agricultural through industry to services.

Long run growth and short run fluctuations.

Basic macroeconomic indicators, GDP, inflation, unemployment.

Stock market and business cycles.

Recessions and unemployment.

Modern banking system: base money and banking money.

Quantity Theory of Money and its limits.

Inflation and monetary policy.

Economics of taxation.

Fiscal policy and public budget.

Monetary systems (floating currencies, gold standard, currency board).

International capital flows.

Recommended reading: 
None, only lectures.