Basics of Macroeconomics

Macroeconomic Issues and Polices
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  • Lectures 20
  • Length 1 hour
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
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About This Course

Published 11/2015 English

Course Description

The course is divided into four sections.

In section A, we shall define Macroeconomics and try to understand the major issues of macroeconomics like unemployment, inflation and economic growth.

Section B will give you idea about various concepts of national income like GNP and GDP, and the significance of their measurement in nominal and real forms will be discussed with particular examples.

Aggregate demand and Consumption function are core concepts in Macroeconomics which will be discussed in section C, following which we shall examine the national income determination process in the Keynesian model.

And in the final section, that is, in section D, we shall deal with the most important part of the course ‘Demand Management Policies’. In this section, various policy effects of the government or of central bank will be addressed with necessary illustrations.

What are the requirements?

  • No specific prerequisites are necessary
  • All concepts are introduced slowly and gradually, but the attitude of analytical thinking is important

What am I going to get from this course?

  • learn the basic concepts of macroeconomics
  • capable of interpreting and evaluating media reports on the macroeconomy
  • formulate macroeconomic policy suggestions
  • analyze the effects of various policy measures taken by government and central bank

Who is the target audience?

  • Materials of this course are suitable for learners of any discipline
  • students of both of economics and business will be benefited from the course

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.


Section 1: Section A

An overview of the course


Macroeconomics is defined distinguishing it from Microeconomics along with its major issues


What does economic growth mean? How can we measure it?


What is Inflation? Is inflation always bad? Who gains from inflation? And, who loses?


What is unemployment? How is unemployment rate measured? What are the different forms of unemployment? What are the costs of unemployment?

Section 2: Measures of National Income

Gross National Product and its properties


Definition of GDP and its properties


The difference between GNP & GDP. How can we get GNP from GDP?


Distinguish between nominal and real GNP/GDP


Why is it important to know real GNP/GDP?

1 question

Section 3: Aggregate Demand and Keynesian Model of Nation Income Determination

What is aggregate demand? What are its components?


Consumption function in graph and equation


How can we derive the aggregate demand curve?


How is equilibrium national income is determined in the Keynesian model?

Section 4: Demand Management Policies

What is Demand Management Policy? What are its different types?


What is fiscal policy? How is it Exercised? What are the different types of fiscal policy?


Effects of fiscal policy on unemployment and inflation.


What is monetary policy? How is it executed? What are the different types of monetary policy?


How is interest rate determine din the money market?

Effects of monetary policy in the money market.


When should we take expansionary monetary policy? When is contractionary monetary policy suitable?

Demand Management Policies
1 question

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Instructor Biography

I am a practicing academician of Economics at IIUC and currently working as a fellow of the Scientific and Technological Research Council of Turkey (TUBITAK). I have more than 10 years of teaching experiences both at undergraduate (BBA) and post graduate (MBA) levels. I am extremely passionate in teaching and thus here to share my teaching experiences with students worldwide.

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