Course Summary
The course is designed to expose students to the basic theories of Macroeconomics which focus on the understanding of how the different markets that make up an economy interact with one another to determine key macro variables such as the national output, employment, the price level, the balance of payments, the exchange rate and interest rate. Specific topics to be covered include: Basic Definitions; Understanding of Short, Medium and Long Run; The Functioning of Goods Market in the Short Run; Aggregate Supply (AS) and Aggregate Demand (AD); (The Medium Term); Economic Growth; Expectations: The Basic Tool; and the Open Economy.