Course Overview
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Course Synopsis
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Macroeconomics describes the overall behavior of the economy. This course discusses the basic principles of macroeconomics and basic concepts of national income accounting i-e GDP, GNP, NNP, PI, DPI, GDP Deflator etc. This also highlights the concepts of money, functions of money, inflation, CPI, impact of inflation on economy and the role of government in an economy. Aggregate demand and supply analysis has also been presented in comparison with IS-LM frame work in closed and open economy. Government debt, Economics growth and unemployment issues have also been discussed in detail. In the end, this course also focuses on the consumption and investment theories which are very essential part of macroeconomics.
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Course Learning Outcomes
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By the end of this course, you should be able to:
- Explain the different concepts of National Income.
- Discuss IS-LM model of aggregate demand in closed and open economies and be able to apply it to the analysis of the impact of fiscal and monetary policies.
- Describe the main models of classical and endogenous growth and their application to the study of economic growth in advanced and developing countries.
- State the links between money and inflation in closed and open economies.
- Apply life cycle /permanent income theory of household consumption.
- Discuss the impact on the economy of public debt and deficits, the theory of rational expectations.
- Explain why exchange rates are so volatile and be able to comprehend less advanced articles in professional journals.
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Course Calendar
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Week 01
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1
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Introduction to Macro Economics
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2
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Principles of Macroeconomics
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3
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Importance of Macroeconomics & Economic Models
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Week 02
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4
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National Income Accounting
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5
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National Income Accounting (Continued 1)
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6
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National Income Accounting (Continued 2)
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Week 03
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7
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Closed Economy, Market Clearing Model
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8
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Closed Economy, Market Clearing Model (Continued)
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Assignment
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9
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Components of Aggregate Demand
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Week 04
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10
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The Role of Government & Money and Inflation
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Quiz No 1
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11
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Money and Inflation (Continued 1)
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12
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Money and Inflation (Continued 2)
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Quiz No 2
Week 05
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13
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Money and Inflation (Continued 3)
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15
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The Open Economy (Continued 1)
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Week 06
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16
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The Open Economy (Continued 2)
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17
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Issues in Unemployment
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18
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Issues in Unemployment (Continued)
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Week 07
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20
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Economic Growth (Continued 1)
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21
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Economic Growth (Continued 2)
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Week 08
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22
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Economic Growth (Continued 3)
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23
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Economic Growth (Continued 4)
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24
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Aggregate Demand and Aggregate Supply
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Week 09
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25
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Aggregate Demand and Aggregate Supply (Continued)
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26
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Keynesian Theory of Income & Unemployment
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Week 10
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28
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IS-LM Framework (Continued)
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29
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IS-LM Framework and Aggregate Demand
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GDB
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30
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The Mundell-Fleming Model
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Week 11
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31
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The Mundell-Fleming Model (Continued 1)
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32
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The Mundell-Fleming Model (Continued 2) & The Three Models of Aggregate Supply
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33
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Three Models of Aggregate Supply (Continued)
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Quiz No 3
Week 12
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34
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Inflation, Unemployment and The Phillips Curve
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36
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Government Debt (Continued)
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Week 13
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38
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Consumption Theories (Continued 1)
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39
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Consumption Theories (Continued 2)
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Week 14
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41
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Investment Theories (Continued 1)
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42
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Investment Theories (Continued 2)
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Week 15
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43
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Investment Theories (Continued 3)
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45
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Money & Banking (Continued)
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