ECO1201 Introductory Macroeconomics

This course is an introduction to the fundamentals of Macroeconomics. Macroeconomics as the other major branch of economic theory focuses on aggregate variables and policies adapted to direct economic outcomes. It is concerned with booms and recessions, the economy’s total production of goods and services, economic growth and unemployment, money supply and interest rates, fiscal and monetary policies and foreign exchange markets. At the introductory level, emphasis is particularly attributed towards the understanding of the key macroeconomics concepts. 

Course Objectives
This course is guided the following objectives;

• Conceptualization of the term ‘Macroeconomics’
• Study of the measurement and use of national income statistics
• Derivation of the aggregate demand, consumption and saving functions 
• Study the problems of inflation and unemployment 
• Description of the country’s monetary and fiscal policies.
• Study the domestic economy in an international context

Course Learning Outcomes
While designing the course content outlined below and the objectives stated above, the following learning outcomes were born in mind. Students should 

• Define clearly the term macroeconomics
• Explain why and how macroeconomic emerged as a one of core theoretical foundation of economic theory
• Define and describe national income statistics 
• Describe aggregate demand and aggregate supply functions 
• Illustrate the causes, effects and solutions to inflation and unemployment 
• Explain the objectives and ways of implementing monetary and fiscal policies
• Explain the reasons for international trade and arguments for protectionism