Understanding macroeconomics variables and national accounting; Aggregate economic variables: GDP, GNP, national income, money supply, price index and inflation rate, unemployment rate, exchange rate; The long-run evolution of economic growth and productivity; The real economic activity: The supply side, the demand side, macroeconomic shocks and policy responses, the role of saving, investment, interest rate, and expectations, understanding international trade and capital flows, money, financial markets, and the role of central banks, understanding exchange rates and balance of payment statements.