Faculty of Business and Management Sciences · Business Administration · Undergraduate
Course Objective
This course is designed to give students the ability to evaluate intermediate macroeconomic concepts and make students ready to use logic and methods of macroeconomic analysis in their further studies. It will provide an overview of the concepts of macroeconomic issues such as the determination of output, employment, unemployment, interest rates, and inflation. The course examines the main principles of real income determination, the concepts of goods and financial markets, as well as monetary and fiscal policies.
Course Content
This course starts looking at the world economy and describing the national income accounts. Then the basic concepts of general equilibrium in the economy with goods and financial markets are handled. Later, the closed economy version of the Keynesian macroeconomics is considered under the assumptions of fixed price (IS/LM analysis) and variable price (AD/AS analysis). Then, the labor market and the Phillips Curve are studied. Finally, some important macroeconomic variables such as inflation, unemployment, monetary policy, cyclical fluctuations theories, consumption and investment are discussed in more detail.
Course Learning Outcomes
- • be able to define the main macroeconomic concepts like GDP, inflation, unemployment, balance of payments, monetary, fiscal, redistribution and exchange rate policy
- • be able to explain the basic mechanism of macroeconomics.
- • be able to evaluate the relationship between macroeconomic variables.
- • be able to describe the models and methods used in macroeconomic analysis
- • able to use the IS-LM, AD-AS and IS-LM-BP models to analyse macroeconomic problems