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.
Macroeconomics is defined distinguishing it from Microeconomics along with its major issues
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?
Gross National Product and its properties
Definition of GDP and its properties
The difference between GNP & GDP. How can we get GNP from GDP?
Why is it important to know real GNP/GDP?
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?
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?
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.