AGEC-6504 (Macroeconomics 1)

                                                            DESCRIPTION AND OBJECTIVES

The purpose of this course is to provide the students with an introduction to the basic macroeconomic principles; to enable students to appreciate the workings of real (labour and goods) and asset/money markets and the nature of equilibrium in each market; to emphasize the role of macroeconomic policies that affect internal and external deficits, inflation and growth of per capita income. Throughout the course a focus will be on ‘critical thinking’ to analyze macroeconomic problems. The course is pitched at the core principles level so is based on the understanding that students have at least attained some basic macroeconomics knowledge equivalent to that covered in any primary Economics course. 

                                                        INTENDED LEARNING OUTCOMES

After completing the course, students are supposed to have fundamental knowledge of economic issues at aggregate level.

                                                                 COURSE CONTENTS

An introduction to Macroeconomics and the economy. Microeconomics versus macroeconomics. The Roots of macroeconomics. Structure of economy and circular flow of income. Measuring domestic output and national income. Product, expenditure and income approaches. Other national income accounts. Price indices, Nominal and real GDP. Economic growth and instability: the business cycles, unemployment and its types, inflation and its types. The income consumption and income saving relationships, the real interest rate and investment relationship. The multiplier, accelerator and super-multiplier effect; The aggregate expenditure model.

                                                                                     READINGS

TEXT BOOKS:

  1. McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies 19thEdition. New York: McGraw-Hills.

SUGGESTED READINGS:

  1. Dornbusch, R., Fischer, S. and Startz, R. (2013) Macroeconomics, 12th Edition, New Yark: McGraw Hill.
  2. Shapiro E. (2003). Macroeconomic Analysis, 5th Edition. HARCOURT BRACE publisher.
  3. Abel, B. Andrew & Ben S. Bernanke. (2005). "Macroeconomics" 6th edition. Mcgraw Hill Inc.
  4. Rittenberg, L., &Tregarthen T. (2012).  Principles of Macroeconomics. Version: 2.0:Flat World Knowledge, Inc.

                                                                       COURSE SCHEDULE

        Week

                            Topics and Readings

  Books with Page No.

1.

Economics, Microeconomics, Macroeconomics. Basic concept

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 575-578

2.

Economics, Microeconomics, Macroeconomics. Basic concept

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 580-586

3.

Basic concepts: National income and its accounting

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 589-596

4.

National income and its accounting

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 598-603

5.

Economic Growth

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 609-612

6.

Economic Growth

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 615-617

7.

Economic Growth

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 618-622

8.

Economic Growth, Business cycle, unemployment & inflation

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 625-631

9.

Business cycle, unemployment & inflation

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 633-639

10.

Business cycle, unemployment & inflation

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 639-642

11.

Business cycle, unemployment & inflation, Macroeconomic relationships

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 645-651

12.

Macroeconomic relationships

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 652-659

13.

Macroeconomic relationships

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 659-664

14.

Aggregate expenditure model

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 671-673

15.

Aggregate expenditure model

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 676-678

16.

Aggregate expenditure model

 

McConnel, C.R., Brue, S.L and Flynn, S.M. (2011). Economics: Principles, Problems and Policies  page no: 682-685
 

 

                                       RESEARCH PROJECT/PRACTICAL/LABS/ASSIGNMENTS

Review of Growth rate, Inflation and Unemployment in Pakistan

Power point presentations.

                                                        ASSESSMENT CRITERIA

Sessional:                    12 (Class Attendance:2, Presentation: 4, Assignments: 6)

Mid Term Test:           18

Final Term Test:         30

Course Material

Other Courses by Muazzam Sabir