MACROECONOMICS

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Course Code: 
ECO 2201
Course Credit Units: 
3
Semester: 
Semester 2
Year of Study: 
Year 2
Undergraduate or Graduate Level: 
Undergraduate Level
Course Description & Objectives: 

This course looks at three main issues: open economy macroeconomics (as a continuation of the closed economy outlook taught in Introductory Macroeconomics), growth theory (main approaches, their conclusions, and the check of evidence), and third, the supply of the economy (aggregate supply curve and Phillips curves, issues on stabilization policy and trade offs). Course ObjectivesUpon completing this course, students are expected to:

  • Demonstrate understanding of national income accounting and major economic magnitudes.
  • Analyze factors that affect the longer-term performance of the economy.
  • Develop a theoretical model of the macro economy.
  • Identify forces that determine the growth rate of an economy.
  • Examine policies governments may use to influence the rate of growth.
  • Identify the causes and consequences of business cycles and analyze the response of policymakers to cyclical fluctuations.
  • Develop a general framework for a macroeconomic analysis and analyze how macroeconomic policy works and how it can best be used.
  • Examine how the nation’s money supply is determined and explore how the central bank should conduct monetary policy.

Analyze the macroeconomic effects of fiscal policy on economic activity, the burden of government debt and the link between budget deficits and inflation 

Learning Outcomes: 

By the end of this course, students are expected to

  • Develop their economic literacy by extending their understanding of macro- (and micro-economic) concepts beyond the ECO 1202 Introductory Macroeconomicslevel.
  • Enhance students’ understanding of and contribution to a changing society in an informed and responsible way as a result of their grasp of macroeconomic concepts.
  • Consolidate student interest in macroeconomics (and economics in general) and its application to policy issues.
  • Improve students’ writing and verbal communication skills, by applying their understanding of economic concepts to current issues in macroeconomics.
  • Enable students to improve their mathematical and statistical skills, and apply these skills appropriately and accurately in an economic context.

Provide a foundation for those students who may choose to continue studies beyond the 200-level in macroeconomics

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