Macroeconomics: studying the whole society

Macroeconomics: Discussing the whole economy

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Macroeconomics: studying the whole society

What You Will Learn!

Understanding the concept of GDP, GNP, NNP, Disposable income.
Discuss inflation, method to measure inflation, GDP deflator, nominal GDP, Real GDP.
Describe the economy and the principles of Aggregate Demand and Aggregate Supply.
Demonstrate the understanding of monetary policy, money supply, quantity theory of money.

Description

This course introduces key economic indicators, role of government in an economy, measurement of gross domestic product, components of aggregate demand, consumption function and Keynesian multiplier, investment function, government intervention through monetary and fiscal policies, impact of government intervention on economic activity, inflation and unemployment, aggregate supply and demand, balance of payments and trade, public finance, growth, and development.

After completing this course the student will be able to:

1. Analyze the major concept of macroeconomics.

2. Explain how the level of national income determined and measured.

3. Analyze the concept of Consumption, saving and investment.

4. Explain the production function and return to scale.

5. Demonstrate an understanding demand of labor and labor supply.

6. The role money, and relation between money and inflation.

Learning outcomes:

CLO 1. Demonstrate the understanding of the fundamental concepts and mainstream theories and practices in macroeconomics.

CLO 2. Apply basic concepts, theories and models in practical situations, and in both local and international economies context.

CLO 3. Analyze different situations and which monetary and fiscal tools can be used to overcome economic issues.

CLO 4. Make use of the current economic environment in which business decisions are made and present their analysis effectively, both in oral and written forms, while working in teams as well as independently and keep ethical consideration.