This module covers theoretical models on business cycle fluctuations and growth, inflation and unemployment at an intermediate to advanced level. It provides an overview of the most important macroeconomic topics and introduces students to concepts that are important for more advanced studies of macroeconomics and practical work in this field. The focus of this module is on aggregate models without microfoundations. We use the theoretical models to introduce and to discuss important issues of macroeconomic policy concerning growth and macroeconomic stabilization. Particular attention will be devoted to the analysis of the financial system and the conditions that lead to a financial crisis.