| Code |
Course Name |
Language |
Type |
| ISL 244E |
Macroeconomics |
English |
Compulsory |
| Local Credits |
ECTS |
Theoretical |
Tutorial |
Laboratory |
| 3 |
5 |
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. |
|
