National Economics and International EconomicsLaajuus (5 cr)

Objective

After completion of the study unit the student is able to

1. National Economics

- understand the basic concepts and functions of a national economy
- understand the effects of economic cycles on business life
- explain the prerequisites for a balanced economy and the effects of inflation, employment and current account on economic growth
- analyze the available regulatory measures (state-level), channels of influence and the meaning of monetary policies

2. International Economics

- define goals and measures for trade and competition policies and understand protectionistic measures
- recognize the most common trade theories and explain the integration process and the function of the world's trade system led by the WTO

Content

1.

- basic concepts, entities and mechanisms of a national economy
- national accounts, economic cycles, economic growth
- economic policy; financial and monetary policy

2.

- external economic activities and their balance
- trade and competition policies, trade theories, protectionism
- global and regional economic integration