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Course Outline For Macroeconomics

The document outlines a course in macroeconomics for second year students. It describes the course as analyzing macroeconomic indicators using various economic models and theories to examine past and current issues. Students will learn to explain key indicators, identify macro problems, and suggest policies. Assessment includes assignments, tests, and a final exam. The detailed course outline covers topics like GDP, unemployment, inflation, fiscal and monetary policy, economic growth, and expectations.

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ERICK LOUIS ADOKO
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54 views3 pages

Course Outline For Macroeconomics

The document outlines a course in macroeconomics for second year students. It describes the course as analyzing macroeconomic indicators using various economic models and theories to examine past and current issues. Students will learn to explain key indicators, identify macro problems, and suggest policies. Assessment includes assignments, tests, and a final exam. The detailed course outline covers topics like GDP, unemployment, inflation, fiscal and monetary policy, economic growth, and expectations.

Uploaded by

ERICK LOUIS ADOKO
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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LIRA

UNIVERSITY
DEPARTMENT OF
ECONOMICS AND STATISTICS

COURSE OUTLINE FOR


EEC 2201 /SEC 2201
MACROECONOMICS
YEAR TWO, AY 2022/2023, SEMESTER TWO

Course Description: The course builds on the principles developed at the introductory level of
macroeconomics and uses various theories, tools and models in economics to analyze the behaviour of
macroeconomic variables such as output, interest rate, inflation, unemployment among others. These tools
and models allow students to examine past and current economic issues and also make forecasts for the
macroeconomic indicators. In turn the effect of these aggregate indicators on the economy is used to
provide relevant policies options.

Course Objectives: By the end of the course, students should be able to:
 Explain key macroeconomic indicators.
 Identify macroeconomic problems and suggest relevant policies to such problems.
 Use economic models and theories in analyzing macroeconomic issues.

ASSESSMENT
Take Home Assignment 25%
In-class Test 15%
Final Examination 60%
Total 100%

Detailed Course Outline


1. Introduction
 Overview of Macroeconomic Indicators (Output, Unemployment, Inflation).
 The Short, Medium and Long Runs.
 Models in Macroeconomics (Classical, Keynesian, Monetarists, Neo-Classical, New
Keynesians).
2. Income, Money and Interest (The basic integrated IS-LM model)
 The Goods Market and the IS curve.
 The Money Market and the LM curve.
 Simultaneous Equilibrium in the Goods and Money Markets.
 Effectiveness of the Fiscal and Monetary Policy.
 The Policy Mix.
 Fiscal Policy and the Crowding Out Effect.
3. The Labour Market
 Overview of the Labour Market.
 Unemployment.
 Wage Determination.
 Labour Demand.
 Labour Supply.
 Equilibrium in the Labour Market.
 Characteristics of Labour Markets in developing countries
 Minimum Wage Legislation
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4. Unemployment
 Unemployment and Full Employment.
 The Classical View.
 The Keynesian View.
 Other Views of Unemployment.
 Say’s Law Of Markets
5. Inflation

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 Meaning of inflation
 Measuring inflation
 Inflation trends in Uganda
 Costs of inflation: The Inflation tax and other costs
 Effects of inflation
 Inflation and output
 Theories of inflation
 Inflation and unemployment: The Phillips curve.
 Remedies to inflation
6. Facts of Growth
 Meaning of economic growth
 Theories of growth
 Savings and output
 The Harrod-Domar growth model
 The Solow growth model
 World Growth Empirics and Trends: The Asian Tigers, The BRICS, the NICs and
African Lions
7. Saving, Capital Accumulation and Output
 The production Function.
 Interaction between Output and Capital.
 Investment and Capital Accumulation.
 Dynamics of Capital and Output
 Savings Rate and Consumption.
 The Golden-Rule Level of Capital.
8. Technological Progress
 Meaning of Technical Progress
 Technological Progress and the Production Function.
 Determinants of Technological Progress.
9. Expectations
 Nominal versus Real Interest Rates.
 Nominal and Real Interest Rates and IS-LM Model.
 Money Growth, Inflation, and Nominal and Real Interest Rates.

REFERENCES

1. Blanchard, Olivier (2011) Macroecomics. Pearsons, 5th Edition.


2. Dornbusch, R.. S. Fischer and R. Startz (2014) Macroeconomics, McGraw-Hill, New York
3. Pentecost, Eric J. (2000) Macroeconomics: An Open Economy Approach New York: St.Martin's Press.
4. Barro, Robert J. (2008) Macroeconomics: A Modern Approach. Mason, Ohio : Thomson South-
Western
5. Mankiw, N. Gregory (2010) Macroeconomics. New York, NY : Worth Publishers.7thed
6. Samuelson, Paul A. Paul Anthony (2009) Macroeconomics. McGraw-Hill/Irwin, 18th ed.
7. Carlin, Wendy. (2006) Macroeconomics: Imperfections, Institutions, and Policies. Oxford; New York:
Oxford University Press.
8. DeLong J. Bradford (2002) Macroeconomics. McGraw-Hill Irwin
9. Dwivedi, N.W (2005) Macroeconomics Theory, Practice and Policy. The McGraw-Hill Companies.
10. Macdonald, N. Tempini (1999) Macroeconomics and Business: An interactive Approach. Thomas
Learning, Berkshire House- UK
11. Jhingan M.L. (2009) Macroeconomic Theory. Vrinda Publications (P) Ltd, 11th Edition.

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