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Hagf1ÞF05 – Macroeconomics and financial literacy

The basic concepts and main subjects of economics are introduced, dealing with the primary components of the economy and their interplay in a market society. The economic cycle is explained, and the main dimensions of the national economy and their interrelationship are discussed. The leading factors in economic development are covered, while economic problems are analysed with examples from the Icelandic economy.

Numerous ways of presenting economic material are introduced. Students are trained at reading line graphs and gain insight into the use of proportional calculation, indexes, weighted averages and further common methods of processing economic data.

The topics for financial literacy include: Salaries, unemployment, inflation, savings, interests, time value of money, consumer debt, assets.