The BEC 221 Intermediate Macroeconomics course, taught by Dr. Alphonce Juma Odondo, aims to deepen students' understanding of macroeconomic theory and its application to real-world issues such as employment, business cycles, and government roles in economic growth. The course includes assessments through take-away CATs, sit-in CATs, and group assignments, covering topics like national income, consumption theories, money supply, inflation, and international trade. Key references include works by Baumol, Blinder, and Keynes, among others.
The BEC 221 Intermediate Macroeconomics course, taught by Dr. Alphonce Juma Odondo, aims to deepen students' understanding of macroeconomic theory and its application to real-world issues such as employment, business cycles, and government roles in economic growth. The course includes assessments through take-away CATs, sit-in CATs, and group assignments, covering topics like national income, consumption theories, money supply, inflation, and international trade. Key references include works by Baumol, Blinder, and Keynes, among others.
The BEC 221 Intermediate Macroeconomics course, taught by Dr. Alphonce Juma Odondo, aims to deepen students' understanding of macroeconomic theory and its application to real-world issues such as employment, business cycles, and government roles in economic growth. The course includes assessments through take-away CATs, sit-in CATs, and group assignments, covering topics like national income, consumption theories, money supply, inflation, and international trade. Key references include works by Baumol, Blinder, and Keynes, among others.
The BEC 221 Intermediate Macroeconomics course, taught by Dr. Alphonce Juma Odondo, aims to deepen students' understanding of macroeconomic theory and its application to real-world issues such as employment, business cycles, and government roles in economic growth. The course includes assessments through take-away CATs, sit-in CATs, and group assignments, covering topics like national income, consumption theories, money supply, inflation, and international trade. Key references include works by Baumol, Blinder, and Keynes, among others.
Course Objective: This is the second series of Macro-economic theory course taught at undergraduate level. The course aims at enriching the students understanding of macroeconomics theory and helps them in finding answers to some of the very important questions of a nation or the entire world such as what are the factors affecting employment level? What are the business cycles? What are the roles of government in spurring growth, limiting inflation and reducing high employment? Among others. The course will further boost the students’ ability to evaluate proposals of political leaders as regarding taxes, interest rates, public spending and crucial effect on the national and world economies. The course thus aims at equipping students with tools of macroeconomic analysis and their application in practical problems.
ASSESSMENT: CAT 1-TAKE AWAY
CAT 2- SIT IN CAT 3- Group ASSIGNMENTS
Course Content: 1. Introduction Meaning Macroeconomics Basic concepts and techniques of macroeconomics Macroeconomics in historical perspectives 2. National Income Computation of national income (accounting) Real national income and money national income Circular flow of income The concept of equilibrium income Keynesian model of national income 3. Theories of Consumption, Saving and Investment Determinants of consumption Income and Saving Determinants of Investment Accelerator Theory of Investment 4. Money Demand and Money Supply Functions of Money Quantity theory of Money Equilibrium in the Money market Money Supply Motives for holding money-money demand. 5. The Banking System and Money Supply Types of Banks Functions of Commercial Banks Money creation by Commercial Banks Functions of control bank 6. Inflation Causes and consequences of inflation Unemployment and inflation-Philips curve Measures of reducing inflation 7. International Trade and Finance Why international trade? Exchange rates Balance of trade and payments Protectionism 8. The IS-LM Framework Fiscal Policies Monetary Policies
REFERENCES 1. Baumol W.J. and Blinder (1997): Macroeconomics Principles and Policy, the Dryden Press. Harcourt College Publisher. 2. Stanlake C.F. (1989). Macroeconomics, an Introduction. Longman Group UK Ltd. 3. Livingston 1 and Ord. H.W. (1980) Economics for Eastern Africa. Heinemann. 4. Branson H.B(1979) Macroeconomic theory and Policy, Harper and Row Publishers. 5. Lipsey R.G. (Latest Edition), an Introduction to Positive Economics H.B. 6. Kilik et al (1981); Papers on the Kenyan Economy: Performance, Problems and Policy Heinemann. 7. Dernburg I.F. Macroeconomic, Concepts, theories and policies 8. Glabe S.E. Macroeconomics theory and policy 9. Sharpiro E. Macroeconomic Analysis 10. Keynes J.M. General theories of employment interest and money 11. Sach J.D. and Lanarin B.F. (1993); Macroeconomics in the global economy. Harvester Wheatsheaf.
