COURSE INFORMATION Course Title: MACROECONOMICS

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
ECO 206	C	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
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:	Elective
Study program: (the study for which this course is offered)	Bachelor in Business Administration (3 years)
Classroom and Meeting Time:	E-B33 Wednesday 14:45
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	60%
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 a macroeconomics course that the students of the Faculty of Economics and Administrative 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 macroeconomic 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 introduced 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.

BASIC CONCEPTS OF THE COURSE

1	The science of macroeconomics
2	The data of macroeconomics
3	The economy in the long run
4	Growth Theory - The economy in the very long run
5	Business cycle theory

COURSE OUTLINE

Week	Topics
1	Introduction & Syllabus Review
2	Chapter 2 : The Data of Macroeconomics - Introduces the data of macroeconomics, emphasizing gross domestic product (GDP), the consumer price index (CPI), and the unemployment rate. (page 17 - page 40)
3	Chapter 3: National Income - Presents the classical model of national income. In this model, the factors of production and the production technology determine the level of income, and the marginal products of the factors determine its distribution to households. (page 47 - page 74)
4	Chapter 4: Monetary System - What it is and How it Works - Examines the monetary system and the tools of monetary policy.(page 80 - page 116)
5	Chapter 5: Inflation: Its Causes, Effects, and Social Costs - Because prices are assumed to be flexible, the chapter presents the ideas of classical monetary theory: the quantity theory of money, the inflation tax, the Fisher effect, the social costs of inflation, and the causes and costs of hyperinflation.
6	Chapter 6: The Open Economy - Maintaining the assumption of full employment, this chapter presents models that explain the trade balance and the exchange rate. (page 120 - page 161)
7	Chapter 7: Unemployment and the Labor Market - It explains the assumption of full employment, discussing the dynamics of the labor market and the natural rate of unemployment. It examines various causes of unemployment, including job search, minimum wage laws, union power, and efficiency wages. (page 164 - page 186)
8	Practical Session - Review before Midterm Exam
9	Midterm Exam
10	Chapter 8: Economic Growth I - Capital Accumulation and Population Growth. This chapter makes the classical analysis of the economy dynamic with the tools of growth theory. It introduces the Solow growth model, emphasizing capital accumulation and population growth (page 192 - page 218).
11	Chapter 9: Economic Growth II - Technology, Empirics and Policy, this chapter adds technological progress to the Solow model. It uses the model to discuss growth experiences around the world as well as public policies that influence the level and growth of the standard of living (page 222 - page 252).
12	Chapter 11: Aggregate Demand I - Building the IS - LM Model. This chapter presents the Keynesian cross and the theory of liquidity preference and uses these models as building blocks for the IS–LM model (page 289 - page 306).
13	Chapter 12: Aggregate Demand II - Applying the IS - LM Model. This chapter uses the IS–LM model to explain economic fluctuations and the aggregate demand curve, concluding with an extended case study of the Great Depression(page 312 - page 335)
14	Review before Final Exam

Prerequisite(s):	Knowledge of principles of microeconomics and macroeconomics.
Textbook(s):	N.G.Mankiw, Macroeconomics, 9th ed., Worth Publishers
Additional Literature:	O. Blanchard, Intermediate Macroeconomics, Pearson. N.G. Mankiw, Principles of Macroeconomics, Cengage Learning.
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Students will use macroeconomic knowledge to understand macroeconomic issues
2	They will learn macroeconomic models of growth, aggregate demand, aggregate supply, the open economy, and other extensions
3	They will learn about the open economy with government intervention by using fiscal policy
4	Students will learn the macroeconomic equilibrium by using diagrams
5	They will obtain the theory on how to end the recessionary and inflation gap using fiscal policy
6	They will learn how monetary policy transmission effectively stabilize the inflation
7	Students will learn the money multiplier and quantitative theory of money
8	They will learn how monetary policy effectively stabilizes the exchange rate
9	They will understand the theory and application of exogenous and endogenous models of economic growth

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
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	5	5
Assignments	1	6	6
Final examination	1	14	14
Other	2	10	20
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

NA