| 1 | Analyze to basic principles of macroeconomics. |
| 2 | Explain relationships among macroeconomic variables such as gross domestic product, unemployment, inflation, recession and expansion, budget deficit, interest rate, export and import, trade balance |
| 3 | Use the concepts of macroeconomics to understand and analyze the effect of a change in a macroeconomic variable on the others. |
| 4 | Explain the effects monetary and fiscal policy in the short and long run on the macroeconomic variables |
| 5 | Evaluate and foresee the outcome of monetary and fiscal policy on the macroeconomic variables |
| 6 | Explain the roles of banking system and central banks in the economy |
| 7 | Express how the interest rate is determined and changed in the economy and predict the effects of a change in interest rate on the macroeconomic variables. |
| 8 | Use an aggregate demand and aggregate supply model to interpret the effect of economic shocks on inflation and output. |