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
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Prof.Dr. Abdurrahman IŞIK aisik@epoka.edu.al , Tuesday 11am-12am
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 International Marketing and Logistics Management (3 years)
Classroom and Meeting Time:
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:

BASIC CONCEPTS OF THE COURSE

1

The two main fields of study in economics are microeconomics and macroeconomics. Now, as you already know, macroeconomics deals with the economy as a whole. Microeconomics, on the other hand, studies the behavior of organizations and individuals. Let us understand a few concepts of Macroeconomics such as Monetary Policy, Input and Output etc.

COURSE OUTLINE

Week	Topics
1	Introduction (Summary of Microeconomics topics)
2	GDP: A Measure of Total Production and Income (When you have completed your study of this chapter, you will be able to; 1 Define GDP and explain why the value of production, income, and expenditure are the same for an economy. 2 Describe how economic statisticians measure GDP and distinguish between nominal GDP and real GDP. 3 Describe the uses of real GDP and explain its limitations as a measure of the standard of living.)
3	Jobs and Unemployment (When you have completed your study of this chapter, you will be able to; Define the unemployment rate and other labor market indicators. 2 Describe the trends and fluctuations in the indicators of labor market performance in the United States. 3 Describe the types of unemployment, define full employment, and explain the link between unemployment and real GDP.)
4	The CPI and the Cost of Living (When you have completed your study of this chapter, you will be able to; 1 Explain what the Consumer Price Index (CPI) is and how it is calculated. 2 Explain the limitations of the CPI and describe other measures of the price level. 3 Adjust money values for inflation and calculate real wage rates and real interest rates.)
5	Economic Growth (1 Define and calculate the economic growth rate, and explain the implications of sustained growth. 2 Explain the sources of labor productivity growth. 3 Review the theories of economic growth. 4 Describe policies that speed economic growth.)
6	Finance, Saving, and Investment (When you have completed your study of this chapter, you will be able to; 1 Describe the financial markets and financial institutions and explain their economic functions and benefits. 2 Explain how borrowing and lending decisions are made and how these decisions interact in the loanable funds market. 3 Explain how a government budget surplus or deficit influences the real interest rate, investment, and saving.)
7	Midterm
8	The Monetary System (When you have completed your study of this chapter, you will be able to; 1 Define money and describe its functions. 2 Describe the functions of banks. 3 Describe the functions of the Federal Reserve System (the Fed). 4 Explain how the banking system creates money and how the Fed controls the quantity of money.)
9	Money, Interest, and Inflation (When you have completed your study of this chapter, you will be able to Explain what determines the demand for money and how the demand for money and the supply of money determine the nominal interest rate. Explain how in the long run, the quantity of money determines the price level and money growth brings inflation. Identify the costs of inflation and the benefits of a stable value of money.)
10	Aggregate Supply and Aggregate Demand (When you have completed your study of this chapter, you will be able to Define and explain the influences on aggregate supply. Define and explain the influences on aggregate demand. Explain how trends and fluctuations in aggregate demand and aggregate supply bring economic growth, inflation, and the business cycle.)
11	Fiscal Policy (When you have completed your study of this chapter, you will be able to Describe the federal budget process and the recent history of tax revenues, outlays, deficits, and debts. Explain how fiscal stimulus is used to fight a recession. Explain the supply-side effects of fiscal policy on employment, potential GDP, and the economic growth rate.)
12	Monetary Policy (When you have completed your study of this chapter, you will be able to Describe the objectives of U.S. monetary policy, the framework for achieving those objectives, and the Fed’s monetary policy actions. Explain the transmission channels through which the Fed influences real GDP and the inflation rate. Explain and compare alternative monetary policy strategies.)
13	International Finance (When you have completed your study of this chapter, you will be able to Describe a country’s balance of payments accounts and explain what determines the amount of international borrowing and lending. Explain how the exchange rate is determined and why it fluctuates.)
14	Revision

Prerequisite(s):	No
Textbook(s):	Foundation of Macroeconomic, 8th Edition. Authors: Robin Bade ; Michael Parkin. Published year: 2019, Pearson.
Additional Literature:	Macroeconomics, Global Edition, 5th Edition. Authors: Glenn Hubbard ; Patrick O'Brien. Published year: 2015, Pearson.
Laboratory Work:
Computer Usage:	YES
Others:	No

COURSE LEARNING OUTCOMES

1	Upon successful completion of the course a student will be able to: Define key macroeconomic indicators, including GDP, the rate of inflation, the rate of unemployment, the government budget deficit, the trade deficit, and the exchange rate. Correctly identify real and nominal quantities.

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

No	Program Competencies	Cont.
Bachelor in International Marketing and Logistics Management (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	Use technology to enable business growth and sustainability.	4
6	Synthesize creativity needed for marketing notion with scientific method and numerical skills, for achieving business sustainability.	4
7	Apply the concepts and structures of modern marketing in global context at private and public sectors.	5
8	Integrate the management of logistics, supply chain and in total operations with corporate goals and strategies.	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Homework	4	2
Midterm Exam(s)	1	20
Quiz	4	2
Final Exam	1	60
Attendance		2
Other	1	2
	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)	15	3	45
Mid-terms	1	1	1
Assignments	5	3	15
Final examination	1	1	1
Other	15	1	15
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER

All is well.