MACROECONOMIC THEORY AND POLICY

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Course Code: 
EPP 7102
Course Credit Units: 
3
Semester: 
Semester 2
Year of Study: 
Year 1
Undergraduate or Graduate Level: 
Graduate Level
Course Description & Objectives: 

The purpose of this course is to introduce students to current issues in macroeconomic management. The course examines the policy dilemmas confronting authorities in developing and emerging market economies, and the options available to policymakers, with special attention to how financial sector issues interact with macroeconomic management. The course will cover macroeconomic topics of current interest, such as stabilization and growth, fiscal and external debt sustainability, inflation targeting and other frameworks for monetary policy, fiscal policy, choice of the exchange rate regime and international capital flows. It will explore both the theoretical debates and the practical issues faced by policymakers. Participants are encouraged to reflect on what goes on in their respective countries (and compare experiences) as we discuss the various issues.                                                                                                                                                                                                                                                          Objectives: Macroeconomics Theory and Policy will enable students to understand: (a) Macroeconomic theory of international trade and finance; (b) The macroeconomic policy issues raised by globalization; (c) Economic growth in developing and transitional economies; (d) The macroeconomic theories of the behavior of households and firms; (e) The macroeconomics of long-run growth; and (f) Current macroeconomic issues and policy debates. 

Learning Outcomes: 

Upon the successful completion of this course, students will be able to:

  •  Comprehend basic macroeconomic concepts and principles.
  •  Evaluate the working of an economy.
  •  Critically analyze macroeconomic issues and policies.
  •  Outline basic macroeconomic theory and basic principle of macroeconomics.
  •   Identify tenets of major schools of thought including Classical and Keynesian.
  •  Identify economic interrelationships and models of economic behavior.
  •  Explain the development of economic theory in its social setting.
  •   Articulate differing value systems and their relevance to different economic paradigms.
  •   Articulate the interdependence of nations in a global economy.
  •   Identify and analyze problems in the economy.

 

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MACROECONOMICS
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