IKT 102 - Introduction to Economics II

Course Description

This course provides an introduction to macroeconomic principles, focusing on national income, inflation, unemployment, and economic growth. Students will explore fiscal and monetary policies, financial crises, and international trade dynamics. Emphasis will be placed on real-world applications and policy implications in both developed and developing economies.

Expectations and Goals

Students are expected to engage critically with macroeconomic concepts and apply theoretical models to current economic issues. By the end of the course, they should understand key macroeconomic indicators, policy tools, and global economic interactions. Active participation, analytical thinking, and problem-solving will be essential for success.

• Introduction to the course.
• Introduction to Macroeconomics.
• Measuring National Output and National Income.
• Unemployment, Inflation and long Run Growth.
• Aggregate Expenditure and Equilibrium Output.
• The Government and Fiscal Policy.
• Money, the Federal Reserves, and the Interest Rate.
• The Determination of Aggregate Output, the Price Level, and the Interest Rate.
• Policy Effects and Cost Shocks in the AS/AD Model.
• Financial Crises, Stabilization, and Deficits.
• International Trade, Comparative Advantage, and Protectionism.
• Open Economy Macroeconomics: The Balance of Payments and Exchange Rates.
• Economic Growth in Developing Economies.