Macroeconomics Concepts & Theories

This course is designed to provide students with a foundational understanding of key macroeconomic concepts and principles. The course covers topics such as national income accounting, inflation, unemployment, monetary and fiscal policy, determination of money supply & money demand, classical versus kenysian theory and IS-LM Framework.

Throughout this course, students will explore key concepts such as gross domestic product (GDP), inflation, unemployment, and economic growth. They will also learn about the role of government in the economy, including fiscal and monetary policy, and how these policies influence economic outcomes.

The course will begin by introducing students to the basic principles of macroeconomics, including the fundamental economic problem of scarcity and how societies allocate resources to satisfy their unlimited wants. Students will then delve into the measurement of economic performance, including how GDP is calculated and its significance as a measure of economic health.

As the course progresses, students will examine the causes and consequences of inflation and unemployment, and explore the factors that determine long-run economic growth. They will also learn about the role of money and banking in the economy, including how the Federal Reserve manages the money supply to achieve its macroeconomic objectives.

Throughout the course, students will be presented with real-world examples and case studies to help illustrate key concepts and theories. They will also have the opportunity to engage in interactive exercises and quizzes to test their understanding of the material.

By the end of the course, students will have a solid understanding of the key principles and theories of macroeconomics, and be able to apply this knowledge to analyze and interpret economic events and policies. Whether you are a student looking to supplement your economics coursework or a professional seeking to enhance your understanding of the economy, this course will provide you with the knowledge and skills you need to succeed.

Key Topics Covered:

• The basics of macroeconomics

• Measurement of national income

• Theories of consumption and saving

• The IS-LM model

• Inflation and unemployment

• Economic growth and development

• Government policies and their impact on the economy

Book of Reference - Olivier Blanchard Macroeconomics 7th edition