Course Information

Course Code:
Course Number:
Code Course Name Language Type
ISL 244E Macroeconomics English Compulsory
Local Credits ECTS Theoretical Tutorial Laboratory
3 4 3 0 0
Course Prerequisites and Class Restriction
Prerequisites ISL 231 MIN DD
or ISL 233 MIN DD
or ISL 233E MIN DD
Class Restriction None
Course Description
This course is designed as a follow-up to the first-semester course titled Microeconomics. The Microeconomics course focused on the study of particular product markets through an investigation of the behavior of economic agents of society, namely individuals as consumers and workers, and firms/businesses as producers. The Macroeconomics course will follow up on these micro foundations to develop an understanding of the aggregate economic variables such as national income, unemployment, inflation, savings, investment, productivity, economic fluctuations, growth and sustainability. We look at how these macro variables are defined and measured; identify the basic observed trends in related macroeconomic data; explore their causes and effects. The lectures will develop an analytical framework showing how these macroeconomic variables relate to one another and their relevance to economic policy making. The latter half of the course will focus on the implications of an open economy context for these macroeconomic phenomena, through exploration of international trade, capital flows, exchange rates, balance of payments, economic fluctuations, sustainable growth and human development in the context of a globalized economy.