Introduction to Macroeconomic Theory

This module introduces macroeconomic aggregates and explores the concept of Gross Domestic Product (GDP). Students will learn about value addition, GDP components, the distinction between real and nominal GDP, and factors affecting long-term productivity.

This module covers the relationship between savings and investment in closed economies, fundamental labor market statistics, and inflation measurement. Students will learn about the market for loanable funds, types of unemployment, and the consumer price index.

This module examines monetary systems, banking, and inflation. Students will learn about different forms of money, fractional-reserve banking, central bank operations, monetary control tools, and the relationship between money supply and price levels.

This module focuses on international economics, including trade balances, capital flows, and exchange rates. Students will study the relationship between savings and investment in open economies, and theories of exchange rate determination.

This module explores economic cycles and fluctuations through the analysis of aggregate demand and supply curves. Students will learn about short-run and long-run economic equilibrium and the nature of economic fluctuations.

This module examines government economic policies, including monetary and fiscal approaches. Students will learn about liquidity preference, policy impacts on aggregate demand, multiplier effects, and the debates surrounding economic stabilization policies.