Course Code & Number
ECON 221
Course Title
Macroeconomics I
Credit Hours/ ECTS Credits
(3+0+0) 3 TEDU Credits, 6 ECTS Credits
Type of Course:
Compulsory
Mode of Delivery:
Face-to-face
Language of Instruction:
English
Pre-requisite / Co-requisite::
Pre-requisites: ECON 102-O OR ECON 110 OR ECON 102
Co-requisites: NONE
Catalog Description
Macroeconomics and national income accounting. Keynesian Theory and Classical Theory. Closed economy version of Keynesian macroeconomics under fixed price and variable prices. Labor market and Phillips Curve. Open-economy and Mundell-Fleming analysis. Analysis of basic macroeconomic variables.
Course Objectives
The aim of this course is to introduce students the fundamentals of macroeconomics theory. The course will provide a general introduction to Keynesian Theory, Classical Theory, Labor market, Phillips curve and Mundell-Fleming analysis.
Software Usage
Students will use MS Office applications (Word, Excel, Access) to work on their weekly assignments about 2 hours a week.
Course Learning Outcomes
Upon succesful completion of this course, a student will be able to
1. Describe national income accounting.
2. Differentiate Keynesian theory and classical theory.
3. Explain and compare the impacts of monetary policy and fiscal policy in a closed and open economy.
4. Explain labor market and Phillips-curve.
5. Derive the IS and LM curves from equilibria in the asset and goods markets.
6. Evaluate the relationship between interest rates and income using IS-LM analysis
7. Evaluate the relationship between prices and income using AS-AD analysis.
8. Analyze Phillips curve and basic macroeconomic variables.
9. Apply macroeconomics to current policy issues.
Learning Activities and Teaching Methods:
Telling/Explaining
Discussion/Debate
Questioning
Reading
Peer Teaching
Demonstrating
Problem Solving
Case Study/Scenarion Analysis
Simulation & Games
Video Presentations
Oral Presentations/Reports
Guest Speakers
Web Searching
Assessment Methods and Criteria:
Test / Exam
Quiz
Case Studies / Homework
Presentation (Oral/Poster)
Assessment Methods and Criteria Others:
Recommended Reading
1. Barro. R., Macroeconomics: A Modern Approach. South-Western College Pub., Cincinnati, 2007.
Required Reading
1. Blanchard. O., Macroeconomics. 5th Edition, Prentice Hall, New York, 2010.
Learning Activities and Teaching Methods Others:
Course & Program Learning Outcome Matching:
