575.Introduction to Macroeconomics PDF

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Economic department in collaboration with the school of agriculture...

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INFORMATION AND COMMUNICATIONS UNIVERSITY SCHOOL OF HUMANITIES AND BUSINESS MANAGEMENT DEPARTMENT OF ECONOMICS AND BUSINESS EC 102: INTRODUCTION TO MACROECONOMICS BACKGROUND AND RATIONALE

This course is designed to introduce students to the foundations of macroeconomics and also lay a foundation for advanced macroeconomics courses. The focus is on availing students with knowledge on how the national and international economy as a whole functions to ensure stability and growth. The course tries to introduce the students to all the relevant major topics in macroeconomics such as national income determination, financial markets and institutions, unemployment, international economics, public finance and so forth. LEARNING OUTCOMES

By the end of this course students are expected to:  Demonstrate an understanding of basic macroeconomic principles and concepts.  Ability to comprehend macroeconomic variables relationships and therefore, the mechanism of how change in one macroeconomic variable affects other variables.  Demonstrate the foundation necessary for the study of intermediate macroeconomic courses. CONTENTS: 1. INTRODUCTION

 Scope and methods of Economics  Scarcity and choice  Introduction to macroeconomics https://www.youtube.com/results?search_query=introduction+to+macroeconomics 2. NATIONAL INCOME ACCOUNTING

 Measuring Nominal and Real GDP, and the GDP Deflator  Measuring unemployment and inflation https://www.youtube.com/results?search_query=national+income+accounting 3. INCOME AND EXPENDITURE  Consumption, Investment and equilibrium output  The multiplier  Government and fiscal policy https://www.youtube.com/results?search_query=income+and+expenditure 4. MONEY, INTEREST RATES AND INCOME

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Overview of money How banks create money Functions of the Central Bank Money demand and interest rate determination

 Goods and financial markets https://www.youtube.com/results?search_query=money%2C+interest+rates+and+income 5. AGGREGATE SUPPLY: WAGES, PRICES AND EMPLOYMENT

 Aggregate supply curve and policy effects  Causes of inflation  Labour market and unemployment  Philips curve https://www.youtube.com/results?search_query=aggregate+supply%3a+wages%2c+prices+a nd+employment 6. POLICY TIMING, DEFICIT TARGETING, AND STOCK MARKET EFFECTS

 Time lags regarding policy  Deficit targeting  The stock market and the economy https://www.youtube.com/results?search_query=policy+timing%2c+deficit+targeting%2c+an d+stock+market+effects+ 7. LONG-RUN GROWTH

 Sources of economic growth  Growth and development  Economic growth in developing and transitional economics https://www.youtube.com/results?search_query=long+run+growth+ 8. OPEN ECONOMY MACROECONOMICS  International trade and protectionism  Balance of payments and exchange rates https://www.youtube.com/results?search_query=open+economy+macroeconomics 9. DEBATES IN MACROECONOMICS  Keynes economics  Monetarism  New classical macroeconomics  Supply side economics https://www.youtube.com/results?search_query=debates+in+macroeconomics

Course Assessment:  CA - 40% (1 Assignment and 2Tests)  Final Exam - 60% Text Books: Required:  Karl E. Case, Ray C. Fair, Sharon M. Oster, Principles of Macroeconomics  S. Fischer and R. Dornbusch. Economics. (7th Edition). London: MaGraw-Hill, 2003. Recommended:  Hardwick, P. B. Khan and J. Langmead. Introduction to Modern Economics. London: Longman, 2006.  Mankiw, G.N. Macroeconomics. 5th Edition. New York: Worth Publishers Note: Students will only be permitted to write the examination if they have submitted all the assignments before the final examinations....