The module BEC221 Macroeconomics discusses in detail the essential principles of current topics in macroeconomics reflecting the behavior of the aggregate economy. The subject of the module focuses on the systematic analysis of fundamental concepts such as gross domestic product (GDP), inflation, money supply, interest rate, unemployment, and exchange rates, among others. In this respect, the core material provides a rigorous description of the macroeconomic phenomena that emerge from the interactions between goods, labor, money, and exchange rates markets. Moreover, we will investigate the identification of key macroeconomic variables in both the short- and long-run horizons, assess the impact of demand- and supply-side shocks to the equilibrium, and highlight important aspects related with the influence of trade and openness in economic activity and growth. In doing so, we will investigate the determinants of national income and consider the importance of key assumptions in Neoclassical and Keynesian theoretical frameworks. Finally, the central objective of the module is to characterize the objectives of monetary and fiscal policy in the aim to stabilize business cycle fluctuations, promote economic growth and evaluate their performance and limitations.