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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.
Analysis of The Goods Market and The Financial Markets. Goods and Financial Markets Analysis Using IS-LM Model. The Labor Market. Putting All Markets Together: AS-AD Model. The Relation Between Price And Output. The Natural Rate Of Unemployment and Its Impacts on The Economy. Phillips Curve. Inflation, Activity and Nominal Money Growth. The Facts Of Growth. Saving, Capital Accumulation and Output. Technological Progress and Growth.
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.