COURSE INFORMATION
Course Title: MACROECONOMICS
Code Course Type Regular Semester Theory Practice Lab Credits ECTS
ECO 206 B 4 3 0 0 3 5
Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature) NA
Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours: Naqeeb Ur Rehman , 9:00 TO 5:00PM
Second Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours: NA
Teaching Assistant(s) and Office Hours: NA
Language: English
Compulsory/Elective: Compulsory
Classroom and Meeting Time: 11:30
Course Description: Macroeconomics: The aim of this course is to introduce the basic concepts of macroeconomic analysis. The course presents the theory of short-run economic fluctuations which provides the basis for understanding most discussions of monetary and fiscal policy. Also the course gives ample attention to long-term topics including economic growth, the natural rate of unemployment, persistent inflation and government debt. Topics include money supply and money demand, the open economy, the theory of economic fluctuations and debates over various macroeconomic issues. Macroeconomics is a theoretical as well as an empirical discipline, motivated and guided by a wide array of experience. In line with this approach, the course is conducted on the basis of examples related to current issues in Albania.
Course Objectives: This is one of the two macroeconomics courses that the students of faculty of economics and administration sciences are required to take. This course will teach students the basic tools of macroeconomics and apply them to real world economic policy. The goals of the course are for students to (a) understand how to evaluate macroeconomic conditions such as unemployment, inflation, and growth (b) understand how monetary policy and fiscal policy can be used to influence short-run macroeconomic conditions By analyzing macro economic theories, discussing the validity of macroeconomic topics is the aim of this course. It is concerned with the study of real life economic issues and problems. Thus, in this course, the examples from real life will be introduces to the students. It deals with national income, employment and so on. The aim of the class is to develop some basic concepts and tools to study macroeconomics.
COURSE OUTLINE
Week Topics
1 What is macroeconomics? Major economic issues
2 Measurement of national output (GDP), Nominal and real GDP
3 A basic model of the determination of GDP, Temporary assumptions
4 Aggregate spending, Shifts in the aggregate spending, The multiplier
5 Quiz#1 & National income and its determinants
6 GDP and the price level in the short and long run
7 Mid Term
8 The money multiplier, competitive banking and numerical problems
9 Inflation, its causes, effects and social costs
10 The open economy
11 Quiz#2 The open economy (continued)
12 Unemployment
13 Unemployment (Continued)
14 Review before final exam
Prerequisite(s): NA
Textbook: 1. Lipsey & Chrystal, Economics, 12th Edition, Oxford Publisher
Other References: N.G.Mankiw, Macroeconomics, 7th ed., Worth Publishers
Laboratory Work: NA
Computer Usage: NA
Others: No
COURSE LEARNING OUTCOMES
1 At the end of this course, students should be able to analyse the major economics issues
2 They will learn about the nominal and real GDP, CPI, and inflation measurement
3 Students will learn the simple macroeconomic model
4 They will learn about the macroeconomic theory such as consumption, saving and how they influence GDP
5 They will learn about the simple multiplier and its effect on GDP
6 Students will learn about the full macroeconomic model using diagrams
7 How recession and inflationary gaps effect the business cycle?
8 They will learn about how central bank create money in the economy
9 They will learn about the effect of money multiplier in the economy
10 They will learn about the impact of competitive banking in the economy
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Bachelor in Business Administration (3 years) Program
1 Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics. 4
2 Apply key theories to practical problems within the global business context. 5
3 Demonstrate ethical, social, and legal responsibilities in organizations. 5
4 Develop an open minded-attitude through continuous learning and team-work. 5
5 Use technology to enable business growth and sustainability. 5
6 Analyze data to make effective decisions. 5
COURSE EVALUATION METHOD
Method Quantity Percentage
Midterm Exam(s)
1
30
Quiz
2
15
Final Exam
1
35
Attendance
5
Total Percent: 100%
ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)
Activities Quantity Duration(Hours) Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours) 16 3 48
Hours for off-the-classroom study (Pre-study, practice) 16 2 32
Mid-terms 7 3 21
Assignments 0
Final examination 1 14 14
Other 1 10 10
Total Work Load:
125
Total Work Load/25(h):
5
ECTS Credit of the Course:
5