Macroeconomics

The course is designed to equip students with adequate knowledge of Macroeconomics that will facilitate their appreciation of contemporary issues in macroeconomic discourse. Specific topics to be taught include: Current Macroeconomic Issues; the Science of Macroeconomics; Data of Macroeconomics: National Income Accounting; Economy in the Long Run: Accumulation, Technological Progress and Economic Growth; Economy in the Short Run: Understanding Short-Run Deviations from Long-Run Trends, Income and Spending; the Financial Markets; the Goods and Financial Markets: The IS-LM Model; Explaining Fluctuations with IS-LM Model; IS-LM: A Theory of Aggregate Demand; The Great Depression; The Labour Market; Aggregate Supply; Aggregate Demand and Aggregate Supply; Open-Economy Macroeconomics; the Consumption Function; Investment Spending; Demand and Supply of Money; Unemployment and Inflation; Macroeconomic Policy Making; Globalization and the Great Recession of 2008.