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Macro Economics for Business syllabus

ECO 2045 units · 25 topicsAcademic year 2083/84
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Macro Economics for Business

5 units

1. Fundamentals of Macroeconomics (3 LHs)

  1. Nature of macroeconomics
    1. Nature of macroeconomics
  2. Effect of macroeconomic variables and policies on economic environment for business
    1. Effect of macroeconomic variables and policies on economic environment for business
  3. Circular flow of income and expenditure in a closed and open economy
    1. and Circular flow of income and expenditure in a closed and open economy.

2. The Measurement and Structure of the National Economy (5 LHs)

  1. Gross Domestic Product (GDP)
    1. Gross Domestic Product (GDP): concepts and measurement
  2. Other national accounts
    1. Other national accounts: GNP, NNP, NI, PI, DI, GNDI and per capita income
  3. Concept of Green GDP, Real GDP, price indexes and inflation
    1. Concept of Green GDP, Real GDP, price indexes and inflation
    2. Saving and wealth
  4. Interest rates
    1. and Interest rates: nominal and real interest rates.

3. Consumption, Saving and Investment (4 LHs)

  1. Consumption function
    1. Consumption function: concept, technical attributes and determinants
  2. Saving function
    1. Saving function: concept and technical attributes
  3. Investment function
    1. and Investment function: concept and types, marginal efficiency of capital, investment function, and determinants of investment.

4. Theory of Income and Employment (10 LHs)

  1. Classical theory of employment and output
    1. Classical theory of employment and output
  2. Keynesian theory of income determination
    1. Keynesian theory of income determination: two sector model, three sector model, four sector model
  3. Multiplier
    1. Multiplier: investment multiplier, government expenditure multiplier, tax multiplier and foreign trade multiplier
    2. Paradox of thrift
  4. Is-lm model
    1. and IS-LM model: derivation of IS and LM curves, determination of equilibrium output and effect in equilibrium output due to change in monetary policy and fiscal policy.

5. Macroeconomic Issues and Policies (10 LHs)

  1. Inflation
    1. Inflation: demand-pull inflation and cost-push inflation, measurement and effects
  2. Unemployment
    1. Unemployment: concepts, types and costs
  3. Business cycles
    1. Business cycles: phases
  4. Economic growth and development
    1. Economic growth and development: concepts and determinants
  5. Balance of payments
    1. Balance of payments: concepts and components
  6. Exchange rate
    1. Exchange rate: concept, fixed vs flexible exchange rate
  7. Financial inclusion
    1. Financial inclusion: concept and determinants
  8. Fiscal federalism
    1. Fiscal federalism: concept and components
  9. Public-private partnership
    1. Public-private partnership: concepts
  10. Monetary policy
    1. Monetary policy: concept, objectives and instruments
  11. Fiscal policy
    1. Fiscal policy: concept, instruments and objectives.