logo
COURSE INFORMATION
Course Title: MACROECONOMICS
Code Course Type Regular Semester Theory Practice Lab Credits ECTS
ECO 206 A 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: Assoc.Prof.Dr. Nargiza Alymkulova nalymkulova@epoka.edu.al , Tuesday, 13:00-16:00
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 Business Informatics (3 years)
Classroom and Meeting Time: E-213, Wednesday, 8:45-11:30
Code of Ethics: Code of Ethics of EPOKA University
Regulation of EPOKA University "On Student Discipline"
Attendance Requirement: 75 %
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 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, examples from real life will be introduced to the students. The aim of the course is to develop some basic concepts and tools and be able to apply them in real life issues.
BASIC CONCEPTS OF THE COURSE
1 Gross domestic product (GDP), the total value of goods and services produced in an economy, is the broadest measure of economic activity
2 We calculate national saving by summing private saving and government saving
3 Classical growth theory, Modern-Day Malthusians growth theory, neoclassical growth theory,, new growth theory, a perpetual motion economy.
4 The multiplier is the amount by which a change in autonomous expenditure is magnified to determine the change in equilibrium expenditure and real GDP.
5 A monetary policy instrument is a variable that a central bank can directly control or very closely target and that influences the economy in desirable ways.
6 Fiscal policy uses government expenditures and taxes as instruments
7 The unemployment rate measures the percentage of the labor force that is unemployed
COURSE OUTLINE
Week Topics
1 Introduction and Syllabus Review
2 Measuring the Value of Production: GDP. In this chapter, we will study how economists define and measure the most important data in macroeconomics, areas critical to your gaining a full understanding of macroeconomics. In this chapter, we will examine the following questions: How do define GDP and explain why GDP equals aggregate expenditure and aggregate income; explain the uses and limitations of GDP as a measure of economic well-being. Chapter 4, pp.115-138.
3 Monitoring Jobs and Inflation. In this chapter, we answer to the following questions: why unemployment is a problem. And how we measure the unemployment rate and other labour market indicators; why unemployment occurs and why it is present even at full employment; why inflation is a problem and how we measure the inflation rate. Chapter 5, pp. 139-161.
4 Economic Growth. This chapter provides a framework for an understanding of the concept of economic growth. We will define and calculate the economic growth rate and explain the implications of sustained growth; describe the economic growth in different countries; explain what makes potential GDP grow; examine the sources of labour productivity growth; and examine the theories of economic growth and policies to increase its rate; Chapter 6, pp. 163-189.
5 Finance, Saving, and Investment. In this lecture, we will examine the flows of funds in financial markets, how financial decisions are made and the risks that arise from these decisions; how lending and borrowing decisions interact in financial markets; and how governments influence financial markets. Chapter 7, pp. 191-210.
6 Money, the Price level, and Inflation. This lecture will provide insights of what is money and its functions; examine the economic functions of banks; how the banking system creates money; what determines the quantity of money and the nominal interest rate; how quantity of money influences the price level and the inflation rate. Chapter 8, pp. 213-241.
7 Money, the Price level, and Inflation. This lecture will provide insights of what is money and its functions; examine the economic functions of banks; how the banking system creates money; what determines the quantity of money and the nominal interest rate; how quantity of money influences the price level and the inflation rate. Chapter 8, pp. 213-241. Quiz.
8 Aggregate Supply and Aggregate Demand. In this lecture, we will examine what determines aggregate supply in the long run and in the short run; what determines aggregate demand; how real GDP and the price level are determined and what causes growth, inflation, and cycles; examine the main schools of thought in macroeconomics today. Chapter 10, pp. 273-295.
9 Midterm Exam
10 Aggregate Supply and Aggregate Demand. In this lecture, we will examine what determines aggregate supply in the long run and in the short run; what determines aggregate demand; how real GDP and the price level are determined and what causes growth, inflation, and cycles; examine the main schools of thought in macroeconomics today. Chapter 10, pp. 273-295.
11 Expenditure Multipliers and Fiscal Policy. This lecture provides an understanding of how expenditure plans and how real GDP is determined when the price level is fixed; examines the expenditure multiplier and the relationship between aggregate expenditure and aggregate demand; what fiscal policy is; the effects of fiscal policy on potential GDP and economic growth; how fiscal policy redistributes benefits and burdens across generations; and how fiscal stimulus is used to speed recovery from recession. Chapter 11, pp. 297-350; Chapter 12, pp. 353-376.
12 Expenditure Multipliers and Fiscal Policy. This lecture provides an understanding of how expenditure plans and how real GDP is determined when the price level is fixed; examine the expenditure multiplier and the relationship between aggregate expenditure and aggregate demand; what fiscal policy is; the effects of fiscal policy on potential GDP and economic growth; how fiscal policy redistributes benefits and burdens across generations; and how the fiscal stimulus is used to speed recovery from recession. Chapter 11, pp. 297-350; Chapter 12, pp. 353-376. Deadline for home assignment submission
13 Monetary Policy. In this lecture we will examine the objectives of the monetary policy and framework for setting and achieving them; explain the transmission channels through which central banks influence real GDP, jobs and information; and have a look at macroprudential regulations prompted by the financial crisis of 2008. Chapter 14, pp.379-403.
14 Review and wrap up.
Prerequisite(s): Introduction to Economics
Textbook(s): Parkin, M. (2023). Macroeconomics, 14th Global Edition, Pearson.
Additional Literature: Mankiw, G. (2021). Principles of Macroeconomics, 9th Edition, Cengage Learning, Inc.
Laboratory Work:
Computer Usage: Internet during class
Others: No
COURSE LEARNING OUTCOMES
1 Students will use macroeconomics knowledge to understand the macroeconomic issues
2 They will learn macroeconomic models of growth, aggregate demand, aggregate supply, open economy, and other extensions
3 They will learn about open economy with government intervention using fiscal policy
4 Students will learn the macroeconomic equilibrium using diagrams
5 They will learn how monetary policy transmission effectively stabilize the inflation
6 Students will learn the money multiplier and quantitative theory of money
COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES
(Blank : no contribution, 1: least contribution ... 5: highest contribution)
No Program Competencies Cont.
Bachelor in Business Informatics (3 years) Program
1 Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics. 5
2 Apply key theories to practical problems within the global business context. 4
3 Demonstrate ethical, social, and legal responsibilities in organizations. 5
4 Develop an open minded-attitude through continuous learning and team-work. 5
5 Integrate different skills and approaches to be used in decision making and data management. 5
6 Combine computer skills with managerial skills, in the analysis of large amounts of data. 5
7 Provide solutions to complex information technology problems. 5
8 Recognize, analyze, and suggest various types of information-communication systems/services that are encountered in everyday life and in the business world. 5
COURSE EVALUATION METHOD
Method Quantity Percentage
Homework
1
5
Midterm Exam(s)
1
30
Quiz
1
5
Final Exam
1
40
Attendance
5
Other
1
15
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 10 10
Assignments 1 3 3
Final examination 1 12 12
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

Home Assignments: There will be one home assignment. Written assignments are to be completed in APA style via online system (by turning in Google Classroom) on/prior the date they are due. For detailed information, refer to the Publication Manual of the American Psychological Association (7th ed.), http://www.apastyle.org/ Those home assignment which will be sent as email attachments or sent to the system after deadline will not be accepted. Interaction during class discussions (other): students are expected to actively participate in the discussions, problem solving exercises. In this line, problems which we do not solve in class can be delivered and submitted in written form before the beginning of the next week class. Therefore, it is great opportunity for the students to get some points. Students not paying close attention during classes (talking on irrelevant themes, students distracted from class by using mobile phones/any electronic gadgets, and preparing for other classes) will be considered as being absent. Quizzes: There will be online quizzes after each chapter which will be conducted online and consist of multiple-choice questions. However, the aim of the quiz is to check the knowledge of what you learnt and there are no grades for them. Furthermore, there will be one offline quiz before the midterm, which will be graded. Exams: The midterm and final exams are all closed book exams. They will consist of open questions and exercises. Only pens, pencils, erasers, calculators are allowed to use during exam sessions.
2014 - 2024 © Epoka University, ICTC Office