COURSE INFORMATION Course Title: INTRODUCTION TO ECONOMICS II

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 102	B	2	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
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	M.Sc. Jonida Rada jballiu@epoka.edu.al , Friday/ 10:00 - 11:00
Second Course 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
Study program: (the study for which this course is offered)	Bachelor in Political Science and International Relations (3 years)
Classroom and Meeting Time:	D-103 Tuesday 13:45
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	60%
Course Description:	Introduction to Economics II: This is an introductory macroeconomics course. The aim of the course is to develop an understanding of elementary macroeconomic analysis and its applications. By the end of the term, the student should have acquired a basic understanding of the main macroeconomic topics, including national income, aggregate demand and supply, an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off. The material covered in this course will help the student to organize his/her ideas about economics.
Course Objectives:	The objective of this course is to develop an understanding of elementary factors of macroeconomics and give an overview of the macroeconomic equilibrium models of different countries to the students. It aims to learn to students an introduction to the real economy and money and prices in the long run and some basic concepts about inflation and unemployment trade-off.

BASIC CONCEPTS OF THE COURSE

1	Macroeconomics
2	Aggregate Demand (AD) & Aggregate Supply (AS)
3	Gross Domestic Product (GDP)
4	Consumption & Investment
5	Business Cycles
6	Special Case of Money
7	Central Bank & Monetary Policy
8	Economic Growth
9	Okun's Law
10	Philip's Curve

COURSE OUTLINE

Week	Topics
1	Introduction & Syllabus Review
2	Overview of Macroeconomics: Macroeconomics is the study of the behavior of the entire economy: It analyzes long-run growth as well as the cyclical movements in total output, unemployment and inflation. The central concepts for understanding the determination of national output and the price level are aggregate supply (AS) and aggregate demand (AD). Chapter 19 (page 367 - page 385)
3	Measuring Economic Activity: The national income and product accounts contain the major measures of income and product for a country. The gross domestic product (GDP) is the most comprehensive measure of a nation’s production of goods and services. Chapter 20 (page 386 - page 407)
4	Practical Session
5	Consumption and Investment: Disposable income is an important determinant of consumption and saving. The consumption function is the schedule relating total consumption to total disposable income. Chapter 21 (page 408 - page 427)
6	Business Fluctuations and Theory of Aggregate Demand: Business cycles or fluctuations are swings in total national output, income, and employment, marked by widespread expansion or contraction in many sectors of the economy. Chapter 22 (page 428 - page 452)
7	Money and Financial System: The flow of funds in financial systems occurs through financial markets and financial intermediaries. The major functions of a financial system are to transfer resources, to manage risk, to subdivide and pool funds, and to clear transactions. Money is anything that serves as a commonly accepted medium of exchange, or a means of payment. Chapter 23 (page 453 - page 474)
8	Practical Session - Review before Midterm Exam
9	Midterm Exam
10	Monetary Policy and the Economy: Every modern country has a central bank. The central bank announces a target short-term interest rate chosen in light of its objectives and the state of the economy. Chapter 24 (page 475 - page 498)
11	Economic Growth: The analysis of economic growth examines the factors that lead to the growth of potential output over the long run. The growth in output per capita is an important objective of government because it is associated with rising average real incomes and living standards. Chapter 25 (page 501 - page 520)
12	Practical Session
13	Unemployment and Inflation: The government gathers monthly statistics on unemployment, employment, and the labor force in a sample survey of the population. According to Okun’s Law, for every 2 percent that actual GDP declines relative to potential GDP, the unemployment rate rises 1 percentage point. Chapter 29 & Chapter 30 (page 589 - page 629)
14	Practical Session - Review before Final Exam

Prerequisite(s):	NA
Textbook(s):	Economics, P.A.Samuelson-W.D.Nordhaus , 19th ed., Mc Graw-Hill Ins.,2009Economics, M. Parkin, Pearson; 12 edition (2015)
Additional Literature:	Lectures Presentations
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Learning of economic measurements such as GDP, CPI, unemployment.
2	Analyzing of aggregate demand (AD) and aggregate supply (AS).
3	Understanding the role of money in the economy.
4	Learning of economic growth and its determinants.
5	Understanding the implications of open economy.
6	Learning the implications of monetary and fiscal policy.
7	Learning of macroeconomic fluctuations.
8	Learning of working of macroeconomics in the short run and long run.
9	Learning and understanding inflation.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Political Science and International Relations (3 years) Program
1	Having and using advanced knowledge and comprehension supported by textbooks including actual knowledge in political sciences and international relations literature, materials and the other scientific resources.	5
2	Analyzing data, ideas and concepts of current political issues and international relations, determining complex events and topics, making discussions and developing new suggestions in accordance with researches.	5
3	Having knowledge and thought about actual topics and problems together with their historical, social and cultural aspects.	5
4	Introducing those who are interested in politics and international events with the topics of Political Science and IR and teaching clearly the problems and the types of solutions.	5
5	Improving skills of working together with the main social science disciplines and other disciplines which are related to Political Science and International Relations.	5
6	Improving critical thinking and skills in making research independently.	5
7	Developing solutions about the problems and conflicts which are common in national and international arena.	5
8	Improving skills for leadership and research and analyze capacity of those who is responsible with national and international ones.	5
9	Knowing any foreign language enough to communicate with colleagues and understand actual researches and articles.	5
10	Gaining IT skills to use computer and technology) in order to reach actual knowledge.	5
11	Gaining skills to follow societal, scientific and ethic values during collecting, interpreting, conducting of data related to social and political developments.	5
12	Having consciousness about human rights and environment.	5
13	Gaining the skills to follow actual developments and pursue long-life learning.	5

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Lab/Practical Exams(s)	4	5
Final Exam	1	50
	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	1	15	15
Assignments	5	3	15
Final examination	1	15	15
Other			0
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

NA