Course Summary
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.