Principles of Macroeconomics

Course Description

This course introduces the concepts and theories of macroeconomics. It develops students’ ability to understand and estimate GDP and other national accounts. It also helps students in understanding the concept of macro equilibrium, economic cycles, unemployment, inflation, and economic policies (both monetary and fiscal policies).

Course Aims

By the end of this course, students should be able to:

•  Identifying the concept, importance, and objectives of macroeconomic theory
•  Developing the capacity of the student in understanding and calculating GDP estimates, GNP and other different national accounts.
•  Developing the capacity of the student in understanding aggregate supply, aggregate demand and the determination of macroeconomic equilibrium.
•  Developing the capacity of the student in understanding and analyzing the economic business cycles and its relationship with the problems of inflation and unemployment.
•  Identifying the concept and analyzing economic growth, economic development and sustainable development
•  Developing the capacity of students regarding the determination and analyzing macroeconomic policies.
•  Developing the capacity of the student in understanding and analyzing the foreign trade policies, exchange rate and the balance of payments.

Course Contents:

•  Basic Concepts and theories in the field of macroeconomics.
•  National Accounts: understanding and estimating the GDP and national income.
•  Determination of Equilibrium Level of Income (in two and three sectors)
•  Aggregate supply and aggregate demand, and the determination of equilibrium.
•  Economic business cycles theories and unemployment (types and indicators).
•  Economic growth, economic development, and sustainable development.
•  Fiscal and monetary policies and their usage.
•  Foreign trade, exchange rate theory, and balance of payments.
•  Current issues in macroeconomic theory.

Course ID: ECON220