Bt11703 Course Outline 2015

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Name of Course
: Macroeconomics 1
Course Code
: BT11703
Name(s) of academic staff: Assoc Prof. Datuk Dr Kassim Md Mansur (Section 1)
Mr Wijaya Kamal Ramlan (Section 2)
Rationale for the inclusion of the course/module in the programme:
1. Provides an overview of the principles essential for understanding the
macroeconomics problem, specific macroeconomics issues, and policy alternatives.
2. Understand and apply the macroeconomics perspective and reason accurately and
objectively about economic matters.
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Semester and Year offered: Sem 1 Session 2015/2016 (Year 2)

Total Student
Face to Face
Total Guided and Independent Learning
Learning Time
(SLT)
L = Lecture
L T P
O
See Appendix
T = Tutorial
P = Practical
O= Others
Credit Value: 3
Prerequisite (if any): Learning outcomes:
At the end of the course, student will be able to:
1. define and describe the fundamental concepts and theories of macroeconomics.
[PLO1][C1]
2. explain the effects of government policies such as price floor, price ceilings and tax
on the market outcome. [PLO1][C1]
3. calculate and explain the measurements of Gross Domestic Products and its four
components, GDP deflator, the consumer price index and inflation. [PLO1][C1]
4. identify and explain the differences between real and nominal variables such as GDP,
Interest Rates and exchange rates. [PLO1] [PLO3] [C2][CTPS]
5. relate the knowledge of macroeconomics to the economic issues, analyze, build new
ideas of, and evaluate the economic issues. [PLO1] [PLO3][C2] [CTPS]
6. communicate and work in team effectively for the discussion held and for completing
the group assignments and group tutorial assignments given. [PLO1] [PLO3]
[PLO4][C1] [CS] [CTPS]
10. Transferable Skills:

Problem solving skills
Practical skills
Communication skills
11. Teaching-learning and assessment strategy:
Lecture, tutorial questions/assignments, group assignments, presentation, mid-term
exam, and final exam.
12. Synopsis:
This course provides introductory materials for macroeconomics. The syllabus is focuses
on applications and policy while explaining the formal economic theory. The first three
chapters introduce students to the economists view of the world, the role of
assumptions in developing theory or model and the role of economist in making policy.
The coverage of the macroeconomics includes how to measure national income, cost of
living, and the behaviour of the real economy, money and prices in the long run. The last
few chapters present the macroeconomics of open economies, maintaining the long run
assumptions of price flexibility and full employment.
13. Mode of Delivery:
Lecture & tutorial.
14. Assessment Methods and Types:
The assessment for this course will be based on the following:
Component
Weight
Quiz
10%
Tutorial
10%
Group Assignment
20%
Mid-term examination
20%
Final examination
40%
Total
100%
All components of the above assessment are compulsory and must be completed before
the stipulated deadline.
15. Mapping of the course/module to the Programme Aims:
Refer to attached Program Summary Matrix
16. Mapping of the course/module to the Programme Learning Outcomes:
Refer to attached Program Summary Matrix
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Content outline of the course/module and the SLT per topic. (See Appendix)
INTRODUCTION TO ECONOMICS
Ten Principles of Economics in how people make decisions, how people interact and
how the economy as a whole works
THINKING LIKE AN ECONOMIST
The Role Of Assumption
The Circular-Flow Diagram
The Production Possibilities Frontiers
Positive Vs. Normative Statement
SUPPLY, DEMAND AND GOVERNMENT POLICIES
Controls On Prices
Price Ceilings And Price Floor
Taxes On Buyers And Sellers
Elasticity And Tax Incidence
MEASURING A NATIONS INCOME
The Economys Income And Expenditure
The Measurement Of Gross Domestic Product
The Components Of GDP
Real Versus Nominal GDP
MEASURING THE COST OF LIVING
The Consumer Price Index
Correcting Economics Variables for the Effects of Inflation
PRODUCTION AND GROWTH
Economic Growth Around The World
Productivity: Its Role And Determinants
Economic Growth And Public Policy
The Importance Of Long-Run Growth
SAVING, INVESTMENT AND THE FINANCIAL SYSTEM
Saving And Investment
The Market For Loanable Funds
UNEMPLOYMENT
Identifying Unemployment
Job Search
Minimum-Wage Laws
Unions And Collective Bargaining
The Theory Of Efficiency Wages
THE MONETARY SYSTEM
The Meaning of Money
The Central Bank
Banks and the Money Supply
OPEN-ECONOMY: BASIC CONCEPTS AND THE MACROECONOMIC THEORY

The International Flows of Good and Capital
Real and Nominal exchange Rates Purchasing Power Parity
Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
Equilibrium in the Open Economy
How Policies and Events Affect an Open Economy
THEORY OF THE OPEN ECONOMY
Supply and Demand for Loanable Funds and Foreign-Currency Exchange
Equilibrium in the Open Economy
How Policies and Events Affect an Open Economy
AGGREGATE DEMAND AND AGGREGATE SUPPLY
Three Key Facts about Economic Fluctuations
Explaining Short-Run Economic Fluctuations
The Aggregate-Demand Curve
The Aggregate-Supply Curve
Two Causes of Economic Fluctuations
THE INFLUENCE OF MONETARY AND FISCAL POLICY ON AGGREGATE DEMAND
How Monetary Policy Influences Aggregate Demand
How Fiscal Policy Influences Aggregate Demand
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Textbooks and references:

Backhouse, Roger. E., and Steven, G. Medema. 2009. "Retrospectives: On the Definition of
Economics." Journal of Economic Perspectives, 23(1): 221-33.
Baumol, W. J., & Blinder, A. S. 2012. Macroeconomics: Principles and Policy (International Edition).
Cengage Learning Asia Pte Ltd.
Krugman, P. & Wells, R. 2012. Macroeconomics. Worth Publishers.
Mankiw, N. Gregory., Goh, S. K., Ong, H. B., Yen, S. H., Cheng, M. Yu., Muzafarshah
Mohd Mustafa., & Yvonne, L. L. E. 2013. Principles of Macroeconomics: Malaysia
Edition. Petaling Jaya, Malaysia: Cengage Learning Asia Pte Ltd. (Main References)
McConnell, C., Brue, S., & Flynn, S. 2011. Macroeconomics. McGraw-Hill/Irwin.
Ricardo, F., Crespo. 2011. Two Conceptions Of Economics. Journal of Applied Economics. 14:2,
181-197.
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Other additional information:
Submission of assignment will be in week 10. Any late submission will be penalized.
Mid-term exam will be held after mid semester break (Week 8).
More details are available at SMART UMS 2 http://smart2.ums.edu.my. Macroeconomics 1/2015/2016
Course Assessment should be done in week 10 through SMP website. Beginning semester 12010/2011, Course Assessment (PK07) can be accessed via Sistem Maklumat Pelajar
http://smp.ums.edu.my.

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Semester and Year offered: Sem 1 Session 2015/2016 (Year 2)

10. Transferable Skills:

OPEN-ECONOMY: BASIC CONCEPTS AND THE MACROECONOMIC THEORY

Textbooks and references:

Other additional information:

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