Introduction To Macroeconomics
This is an introductory economics course that covers topics in macroeconomics. Macroeconomics is the field of economics that studies the behavior of the economy as a whole and not just on specific companies, but entire industries and economies. The purpose of this course is to provide a basic understanding of the mechanisms that drive economic phenomena such as inflation, unemployment, growth and the like.
This course provides an introduction to abroad range of economic concepts, theories and analytical techniques. Macroeconomics issues regarding the interaction of goods and service markets, labour and money at an aggregate level will be modeled. The role of government policy to address microeconomic market failures and macroeconomic objectives will be examined.
The aim of this course is to expose students to the concepts and theories of macroeconomic that will help them understand the general functioning of the economy and build a foundation for other branches of economics. It gives a firm introduction to the study of the economy as a whole.
- To understand the Macroeconomic technics that are used to analyse the Macroeconomic problems such as unemployment, inflation, balance of payment deficit and slow economic growth.
- To enable students relate the knowledge of Economics to other disciplines such as commerce and industry
- To appreciate the relevance and importance of economics as a discipline
- To enable students acquire knowledge of macroeconomic concepts such as gross national product, aggregate supply and demand, unemployment, inflation, monetary, fiscal policy which are the functions of economic aggregates.
- To enable students communicate their knowledge and understanding of economic issues using written and visual expression
COURSE LEARNING OUTCOMES
At the completion of the course unit students should be able to:
- Explain the basic Concepts and theories of Macroeconomics
- Explain why economists use theoretical models as a framework to think about what is observed in the real world.
- Use economic models to analyze a situation in terms of economics
- Discuss how the major macroeconomic variables influence economic growth and development of nations
- Analyze the Macroeconomic concepts such as gross national product, aggregate supply and demand, unemployment, inflation, monetary, fiscal policy which are the functions of economic aggregates.
- Relate basic economic theory to public policy decisions