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    Macroeconomics Course Outline - Fall 2020

    Uploaded by

    Syeda Wasqa
    This document outlines a course on macroeconomics for a Bachelor of Business Administration degree. It provides details on the course code, prerequisites, synopsis, rationale, study load, objectives, learning outcomes, content, and grading policy. The course content is delivered over 15 weeks and covers fundamental macroeconomic concepts such as measuring economic activity, inflation, unemployment, monetary and fiscal policy, international trade, and the relationship between inflation and unemployment. Students will learn macroeconomic theories, models, and analysis to understand national and global economic trends and policy solutions. Assessment is based on participation, assignments, and a final open book exam.

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    © All Rights Reserved
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    Macroeconomics Course Outline - Fall 2020

    Uploaded by

    Syeda Wasqa
    32 views10 pages
    This document outlines a course on macroeconomics for a Bachelor of Business Administration degree. It provides details on the course code, prerequisites, synopsis, rationale, study load, objectives, learning outcomes, content, and grading policy. The course content is delivered over 15 weeks and covers fundamental macroeconomic concepts such as measuring economic activity, inflation, unemployment, monetary and fiscal policy, international trade, and the relationship between inflation and unemployment. Students will learn macroeconomic theories, models, and analysis to understand national and global economic trends and policy solutions. Assessment is based on participation, assignments, and a final open book exam.

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    This document outlines a course on macroeconomics for a Bachelor of Business Administration degree. It provides details on the course code, prerequisites, synopsis, rationale, study load, objectives, learning outcomes, content, and grading policy. The course content is delivered over 15 weeks and covers fundamental macroeconomic concepts such as measuring economic activity, inflation, unemployment, monetary and fiscal policy, international trade, and the relationship between inflation and unemployment. Students will learn macroeconomic theories, models, and analysis to understand national and global economic trends and policy solutions. Assessment is based on participation, assignments, and a final open book exam.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    32 views10 pages

    Macroeconomics Course Outline - Fall 2020

    Uploaded by

    Syeda Wasqa
    This document outlines a course on macroeconomics for a Bachelor of Business Administration degree. It provides details on the course code, prerequisites, synopsis, rationale, study load, objectives, learning outcomes, content, and grading policy. The course content is delivered over 15 weeks and covers fundamental macroeconomic concepts such as measuring economic activity, inflation, unemployment, monetary and fiscal policy, international trade, and the relationship between inflation and unemployment. Students will learn macroeconomic theories, models, and analysis to understand national and global economic trends and policy solutions. Assessment is based on participation, assignments, and a final open book exam.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 10

    Bachelors of Business Administration

    Macroeconomics

    Subject Outline

    Course code: [BUS242]

    Macroeconomics Page 1
    SUBJECT OUTLINE:

    Subject Details………………………………………………………………….…………… [3]


    Pre requisites and presumed knowledge …………………………………….……………… [3]
    Synopsis …………………………………………………………………………………… [3]
    Subject rationale ……………………………………………………………………………. [3]
    Study Load …………………………………………………………………………………. [3]
    Course Objectives ……………………………………………………………….………….. [4]
    Learning outcomes …………………………………………………………………………. [5]
    Content ………………………………………………………………………….………….. [6]
    Resources …………………………………………………………………………………... [9]
    Prescribed textbook ………………………………………………………………………… [9]
    Grading Policy ……………………………………………………………………….…….. [10]
    Marks Distribution …………………………………………………………………………. [10]
    Marks Distribution of 100%:

    Macroeconomics Page 2
    Subject details:

    Course Title: BUS242


    Subject Credit Hours: 03
    Degree: BBA
    Associated courses: Microeconomics

    Pre requisites and presumed knowledge:

    Macroeconomics is regarded as a fundamental course of economics. It deals and caters to the


    aggregate units prevailing in the economy. Contrary to microeconomics, the course of
    macroeconomics studies the economy as a whole, therefore; the students opting for this subject must
    have a consolidated command over the micro-economic-level concepts and functions.

    Synopsis:

    Economics as a mother of all social sciences is regarded as a vital engine for business graduates.
    Macroeconomics is one of its key-branches that try to comprehend the performance, structure,
    behavior and decisiveness of an economy as a whole. The subject does not only cater to local or
    national economy but also to regional and global economy.

    Subject rationale:

    A thorough understanding of macroeconomics is indispensable for the students gauging holistic


    command over the basic concepts and implementations of economic models, theories and mechanisms
    installed at national level. After studying the subject, the students will be able to comprehend, analyze,
    and give their entrepreneurial input towards large-scale or general economic factors such as interest
    rates and national productivity that are key indicators of the performance of an economy.

    Study load:

    Aligned with the volume of learning requirements of the Higher Education Commission 3 credit point
    subject nominally involves 45 hours of study. Study-related activities may include class lectures,
    online videos, independent study, interaction with staff and peers, reflection, application in the
    workplace, quizzes, assignment preparation, forum activities, invited speakers and other. Individual
    student workload may vary during the lectures and expected to attend all lectures workshop and
    tutorials throughout the semester.

    Macroeconomics Page 3
    Teaching Methodology:

    Teaching at Iqra University is learner oriented. Students are involved in lectures, assigned readings, reference
    readings, exercises, case studies, presentations, and class/online discussions. In the same way, grading tends
    to focus on the students’ overall performance and participation in the classroom activities.

    Code of Conduct:

    Students have to follow the rules stated below to avoid a failing grade in the course:

    • Understand and follow the University policy regarding attendance.


    • Arrive in and leave the classroom strictly on time. Late arrival will be marked as absence.
    • If you leave the classroom in the middle of a session even for a short while, you will be marked
    absent.
    • Keep your cell phone off during the class.
    • Do the assigned readings for a class before coming to the class.
    • Maintain a disciplined, cordial, and respectful attitude towards the teacher and your fellow
    students.
    • Submit your homework on the due date before the class begins.
    • Do not plagiarize from books, journals, or the internet.
    • Do not cheat (make someone else do your work or present work for some other course as work for
    this course).
    • The teacher’s decisions about marks and grade will be final.

    Course Objectives (COs):

    The main objectives of this course are to make students:

    1. Understand and discuss the fundamental concepts of Macro Economics


    2. Have a sound idea of the factors responsible for economic growth.
    3. Identify relationship between macroeconomic variables and fluctuations in the GDP.
    4. Identify the roles carried out by different monetary institutions in the economy.
    5. Identify the role of government decisions in the distribution of scarce resources to achieve
    maximum satisfaction by monitoring public and private resources.
    6. Understand the impact of global economies on overall functioning of the economy.

    Macroeconomics Page 4
    Learning Outcomes (LOs):

    At the end of this course it is expected that the student should be able to:

    LO1 Understand the basic concepts of economics at macro-level

    LO2 An outstanding ability to comprehend various national, regional and global economic trends.

    LO3 Construction of macroeconomic techniques and models to illustrate macroeconomic


    problems and potential monetary and fiscal policy solutions.

    LO4 Demonstration of macroeconomic indicators and techniques to achieve sustainable economic


    growth.

    LO5 Understanding the significance of macroeconomics in achieving financial integration.

    Macroeconomics Page 5
    “Course Content”

    Week # 1: Introduction to Macroeconomics


    1 Unit Topic
    Unit 1.1 What Macroeconomics is About
    Unit 1.2 Macroeconomic Concerns
    Unit 1.3 The Components of the Macroeconomy
    Unit 1.4 The Circular Flow Diagram
    Unit 1.5 Two, Three and Four Sector Economy

    Week # 2: Measuring a Nation’s Income


    2 Unit Topic
    Unit 2.1 Concept of National Income
    Unit 2.2 Other measures of National Income
    Unit 2.3 The Components of GDP
    Unit 2.4 Differentiate b/w Nominal and Real GDP

    Week # 3: Measuring Cost of Living


    3 Unit Topic
    Unit 3.1 What is Inflation?
    Unit 3.2 Inflation, Disinflation, and Deflation
    Unit 3.3 Measuring Inflation Rate through CPI
    Unit 3.4 Problems with the CPI

    Week # 4: Growth, Productivity and Unemployment


    4 Unit Topic
    Unit 4.1 Economic Growth and Productivity
    Unit 4.2 Measuring Labour Force and Unemployment Rate
    Unit 4.3 Types of Unemployment: Frictional, Structural & Cyclical

    Week # 5: Classical approach Vs. Keynesian approach


    5 Unit Topic
    Unit 5.1 Classical Economics
    Unit 5.2 Causes of Great Depression
    Unit 5.3 Keynesian Economics

    Week # 6: The Monetary System


    6 Unit Topic
    Unit 6.1 Money: Functions and Kind of Money
    Unit 6.2 Distinguish Money from other assets (M1 & M2)
    Unit 6.3 Federal Reserve System
    Unit 6.4 The Money Multiplier
    Unit 6.5 Tools of Monetary Policy

    Macroeconomics Page 6
    Week # 7: Theory of Aggregate Demand
    7 Unit Topic
    Unit 7.1 Short-run Economic Fluctuations
    Unit 7.2 The Basic Model of Economic Fluctuations
    Unit 7.3 Why the AD curve is downward slopping?
    Unit 7.4 Why the AD curve might shift?

    Week # 8: Theory of Aggregate Supply


    8 Unit Topic
    Unit 8.1 The Aggregate Supply Curve
    Unit 8.2 Why the SRAS curve is upward slopping?
    Unit 8.3 Why the SRAS curve might shift?
    Unit 8.4 The Long-Run Equilibrium

    Week # 9: Business Cycle


    9 Unit Topic
    Unit 9.1 Business Cycle
    Unit 9.2 Phases of Business Cycle
    Unit 9.3 Contraction & Expansion of Business Cycle

    Week # 10: Consumption and Saving function


    10 Unit Topic
    Unit 10.1 The Consumption Function
    Unit 10.2 Relationship between consumption and savings
    Unit 10.3 Average and marginal propensity to consume
    Unit 10.4 Average and marginal propensity to save

    Week # 11: Saving, Investment and the Financial System


    11 Unit Topic
    Unit 11.1 The Financial System
    Unit 11.2 Financial Institutions
    Unit 11.3 Saving and Investment in the National Income Accounts
    Unit 11.4 Markets for Loanable Funds

    Week # 12: International Trade and Balance of Payment


    12 Unit Topic
    Unit 12.1 The Balance of Payment and International Capital Movement
    Unit 12.2 Current, Capital and Financial Account
    Unit 12.3 Factors affecting Balance of Payments
    Unit 12.4 Exchange Rate Systems

    Week # 13: The Short-run Tradeoff Between Unemployment and Inflation


    13 Unit Topic
    Unit 13.1 Unemployment and Inflation
    Unit 13.2 Philips Curve
    Unit 13.3 AD, AS, and the Phillips Curve
    Unit 13.4 Shifts in Philips Curve

    Macroeconomics Page 7
    Week # 14: The Influence of Monetary and Fiscal Policy on Economy
    14 Unit Topic
    Unit 14.1 Federal Reserve System
    Unit 14.2 Economic Fluctuations and Monetary Policy
    Unit 14.3 Economic Fluctuations and Fiscal Policy
    Unit 14.4 Crowding Out Effect

    15. Final Examination Open Book (Flexible Time)

    Macroeconomics Page 8
    Resources:

    Recommended Reading(s):

    1. Mankiw, G.N., (2017). Principles of Economics, 8th Ed. Cengage Learning; ISBN-13:
    978-1305585126; ISBN-10: 1305585127

    2. Principles of Economics (2017) 12th Edition, Case, Karl E.; Fair, Ray C; Oster, Sharon
    C, Published by Prentice Hall, ISBN-13: 978-0134078809; ISBN-10: 0134078802.

    3. In addition, the teacher may prescribe any additional reading material.

    Reference Books:

    1. Macroeconomics, Andrew B. Abel, Ben Bernanke, Dean Croushore, PrenticeHall, 10th


    edition (March 14, 2017) ISBN-10: 0133407926; ISBN-13: 9780133407921.

    2. Economics Today, Roger LeRoy Miller, Prentice Hall, 19th edition (2019) ISBN-10:
    013314867X; ISBN-13: 9780133148671

    3. Economics By Design: Survey and Issues, Robert A. Collinge, RonaldM.Ayers, Prentice


    Hall, 5th edition (2015) ISBN-10: 0131400584; ISBN-13: 9780131400580

    4. Economics, Paul A. Samuelson, William D. Nordhaus, McGraw-Hill/Irwin; 20th edition


    (2018) ISBN-10: 0072872055; ISBN-13: 978-0072872057

    5. Essentials of Economics, Paul R. Gregory, Prentice Hall 6th edition (2019) ISBN-10:
    0321238036; ISBN-13: 9780321238030

    6. Economic Growth, David N. Weil, Prentice Hall 4th edition (2018) ISBN-10: 0321795733;
    ISBN-13: 9780321795731

    7. Schaum's Outline of Principles of Economics, Dominick Salvatore, EugeneDiulio, McGraw-


    Hill; 2nd edition (September 7, 2011) ISBN-10: 0071762531; ISBN-13: 978-0071762533

    Macroeconomics Page 9
    Rescheduling of Class:

    The teachers at Iqra University are very particular about taking their classes, but in case of an
    emergency, an alternate teacher may conduct the class. Students are informed through SMS in case
    of rescheduling of a class.

    Grading Policy:

    ‘A’ Grade: 88 and above


    ‘B+’ Grade: 81 - 87
    ‘B’ Grade: 74 - 80
    ‘C+’ Grade: 67 - 73
    ‘C’ Grade: 60 - 66
    ‘F’ Grade: Below 60

    Marks Distribution of 100%:

    Quizzes …………………………... Marks


    Assignments/Case Studies ………. Marks
    Project/Class Activities …………. Marks
    0LGWHUPExam…………………… Marks
    Final Exam ………………………. Marks
    Total ………………………………100 Marks

    Macroeconomics Page 10

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