Download Macroeconomics Out Line

College of Business Management
Macroeconomics (ECO403)
COURSE OUTLINE
Course Title and Code: Macroeconomics (EC0 102)
Total Credit hours: 45 hrs
1. Overall aims of course
This is an introductory cum intermediate level course in macroeconomics that introduces Master of Business
students to the fundamental questions in macroeconomics: economic growth, unemployment and inflation.
The course is divided into three parts: introductory macroeconomics and measurement of macroeconomic
aggregates, growths and institutions, and macroeconomic policies.
The course will cover long-run and short-run macroeconomics; aggregate demand and national income
accounts; saving and finance; investment and financial markets; investment and monetary policy; central bank
and macroeconomic policy; money supply and interest rate transmission mechanisms; fiscal policy;
discretionary fiscal policy; expectations, inflation, and interest rates; foreign exchange markets and foreign
trade and international balance.
2. Intended learning outcomes of course (ILOs)
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To give a broad overview of the main currents of macroeconomic theory
To introduce students to the most important ideas, models and research methods used in
macroeconomics
To introduce major sources of economic data available for Pakistan and for other countries worldwide.
To use economic data series to test various macroeconomic models studied in this course.
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3. Course Contents:
SESSION TOPICS
1
2
3
4
5
6
7
8
Introduction to Macroeconomics
The Measurement and Structure of the National Economy
Productivity, Output, and Employment
Consumption, Saving, and Investment
Saving and Investment in the Open Economy
Long-Run Economic Growth
The Asset Market, Money, and Prices
Business cycles
CHAPTER
Chapter 1 - AB
Chapter 2 - AB
Chapter 3 - AB
Chapter 4 - AB
Chapter 5 - AB
Chapter 6 - AB
Chapter 7 - AB
Chapter 8 - AB
9
The IS-LM AD-AS Model: A General Framework for
Macroeconomic Analysis
Chapter 9 - AB
10
Classical Business Cycle Analysis: Market-Clearing
Macroeconomics
Chapter 10 - AB
11
Keynesianism: The Macroeconomics of Wage and Price
Rigidity
Unemployment and Inflation
Exchange Rates, Business Cycles, and Macroeconomic Policy
in the Open Economy
Chapter 11 - AB
Monetary Policy and the Federal Reserve System
Government Spending and Its Financing
Chapter 14 - AB
Chapter 15 - AB
12
13
14
15
Chapter 12 - AB
Chapter 13 - AB
4. Teaching and learning methods
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Class room lectures
Research Articles / Assignments
Presentations & Individual Report
5. Student assessment methods
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Quizzes
Presentation
Class participation
MidTerm
Final Exam
10%
10%
10%
30% (15% each)
40%
TOTAL
100
6. Recommended Texts:
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Macroeconomics, by Andrew B. Abel and Ben S. Bernanke (Addison Wesley, latest edition currently 7”
edition available)
7. Additional Readings:
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Romer, D.; Keynesian Macroeconomics without the LM Curve, The Journal of Economic Perspectives,
Vol. 14, No. 2 (Spring, 2000), PP. 149-169
Ben S. Bernanke, Refet S. Gurkaynakls Growth Exogenous? Taking Mankiw, Romer, and Weil Seriously,
NBER Macroeconomics Annual 2001, Volume 16 Jeffrey A. Frankel and David Romer, Does Trade Cause Growth, The American Economic Review, Vol.
89, No. 3 (Jun., 1999), pp. 379-399
Macroeconomics, Rudiger dornbusch and Stanley Fischer, Sixth edition, McGraw Hill Companies.