SHEB203 Principles of Macroeconomics


This unit aims to introduce students to Macroeconomics by providing students with a detailed analysis of the different macroeconomic issues. Students will be able to formulate valid economic policy suggestions based on the most important macroeconomic models, through the use of scientific tools. Therefore, each student will be able to address valid and documented suggestions of economic policy which will be scientifically verified. Through the material covered the student will acquire the basic macroeconomic knowledge that will support future decisions on economic issues and will enhance her/his skills with respect to the application, analysis, synthesis and evaluation of the various macroeconomic phenomena.

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Business Studies (Joint programme with The University of Sheffield)


Dr. Andreas Alexiou
Prof. Sabina Rakarova, PhD
Assoc. Prof. Irena Nikolova, PhD

Course Description:


Students who complete this course:

1) will know:

• the basics and the most important special issues of Macroeconomics

• Introduce students to international trade, comparative advantage, protectionism, financial crises, stabilisation and deficits

2) will be able to:

• Explore economic growth, money and inflation, interest rates

• Analyse aggregate demand and supply, and the IS-LM framework

• Discuss and critically evaluate the Phillips curve, consumption function theory, investment function theory, money demand function

Full-time Programmes

Types of Courses:

Language of teaching:


  1. Introduction
  2. Topics in Macroeconomics
  3. Test


• Case, K., Fair, R., and Oster, S. (2019) Principles of Economics, 13th edition, Global Edition. Pearson.

• All material used in this unit's classes are available in electronic form through CITY's E-Leaning Management System (MOLE) with enrolment password : growth


1. Mankiw, G. N. (2020). Principles of Economics. 9th Edition, Cengage Learning

2. Begg, D., Vernasca, G., Fischer, S., and Dornbusch, R. (2020). Economics. 12th Edition. McGraw-Hill

3. McConnell, C.R., Brue, S.L., and Flynn S. (2021). Economics. 22nd, McGraw Hill

Sources of economic and financial information