IBA 23012 Principles of Macroeconomics

This course introduces students to economic concepts, relationships, and institutions related to the aggregate economy. Keynesian analysis is used to analyze the effect of fiscal and monetary policy actions on employment, output, and prices. Economic decision-making and policy will be grounded within the broader ethical context so as to stimulate students' critical thinking. Topics to be covered include national income accounting, business cycles, economic growth, unemployment, inflation, aggregate demand/supply, fiscal policy, monetary policy, and international trade. By the end of this course, students will be prepared to define the macroeconomic aggregates such as GDP, inflation and unemployment; explain the relationship between the major macroeconomics aggregates and the policy actions and other events which cause them to fluctuate; compare and contrast Classical and Keynesian economics; and appraise how closely the macroeconomic tools discussed in this course parallel developments in the real economy.

Credits

3