At the end of this course, the students; 1) Should have become familiar with basic macroeconomic concepts and understand how an economy operates at the aggregate level. 2) Understands the meaning and contents of GDP, GNP, and national income. 3) Understands the macroeoconomic measures such as unemployment rate, inflation rate, aggregate demand and supply, production and consumption. 4) Should have become familiar with basic macroeconomic concepts and understand how an economy operates at the aggregate level. 5) Understands where and how macroeoconomic equilibrium exists, and how equilibrium is restored when distorted. 6) Understands the contents and effects of monetary and fiscal policies. 7) Should be able to to understand and interpret the news, and articles in daily papers and weekly or monthly news periodicals on inflation, recession, expansion, growth, taxation, treasury borrowing and public debt.
MODE OF DELIVERY
Face to face
PRE-REQUISITES OF THE COURSE
No
RECOMMENDED OPTIONAL PROGRAMME COMPONENT
No recommended optional programme components.
COURSE DEFINITION
This is an introductory level course in macroeconomics - the study of the economy as a whole. The goal is to learn the basic concepts of macroeconomics analysis and how they are applied in the real world situations. Topics include the measurement of national income, the unemployment rate, the price level (inflation), interest rates, the money supply, the balance of payments and the role of government fiscal and monetary policy. At the end of the course, students should be able to describe the basic macroeconomic variables; understand the models that determine the basic macroeconomic variables; understand how governments and the Central Bank influence economic variables and outcomes; provide an understanding of current macroeconomic events.
COURSE CONTENTS
WEEK
TOPICS
1st Week
Introduction to Macroeconomics
2nd Week
Measuring National Output and National Income
3rd Week
Unemployment
4th Week
Inflation
5th Week
Economic Growth and Business Cycle
6th Week
Long-Run Economic Growth
7th Week
Midterm
8th Week
Review
9th Week
Aggregate Expenditure and Equilibrium Output
10th Week
Aggregate Demand and Aggregate Supply Model
11th Week
Money and Monetary Policy
12th Week
Fiscal Policy
13th Week
Macroeconomics in an Open Economy
14th Week
Review
RECOMENDED OR REQUIRED READING
Required Textbook: Hubbard, R.G., and O?Brien A. Economics, Pearson, 2013
Recommended Textbook: Case, K.E., Fair, O.C. and Oster, S.M. Principles of Economics, Pearson, 2017
PLANNED LEARNING ACTIVITIES AND TEACHING METHODS
Lecture,Discussion
ASSESSMENT METHODS AND CRITERIA
Quantity
Percentage(%)
Mid-term
1
40
Attendance
1
10
Total(%)
50
Contribution of In-term Studies to Overall Grade(%)
50
Contribution of Final Examination to Overall Grade(%)
50
Total(%)
100
ECTS WORKLOAD
Activities
Number
Hours
Workload
Midterm exam
1
1,5
1,5
Preparation for Quiz
Individual or group work
14
4
56
Preparation for Final exam
1
45
45
Course hours
14
3
42
Preparation for Midterm exam
1
35
35
Laboratory (including preparation)
Final exam
1
1,5
1,5
Homework
Total Workload
181
Total Workload / 30
6,03
ECTS Credits of the Course
6
LANGUAGE OF INSTRUCTION
English
WORK PLACEMENT(S)
No
KEY LEARNING OUTCOMES (KLO) / MATRIX OF LEARNING OUTCOMES (LO)
