Macroeconomics: Discussing the whole economy
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 economy and graph the principles of Aggregate demand supply
2. Explain how the level of national income and employment is determined and measured.
3. Explain the role of the Federal government in the aggregate economy.
4. Explain role of the monetary authorities in the aggregate economy.
5. Demonstrate an understanding of the problems of stabilization and growth theory.
6. The role of international trade in the economic growth.
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.
Content