BBE3153: MACROECONOMICS [45 LH]
PURPOSE OF THE COURSE
To equip the learner with knowledge on aggregate macro-economic variables in order to contribute towards formulation of economic policies.
EXPECTED LEARNING OUTCOMES
By the end of the course the learner should be able to:-
- Differentiate micro-economics and macro-economics
- Analyze the theories of consumption, savings and investment
- Compute and interpret various multipliers
- Compute national income
- Analyze various international exchange rates
- Evaluate aggregate macroeconomic variables
Definition and historical perspective of macroeconomics, Basic concepts and techniques of macro-economics. Computation of national income, Real income and norminal national income, circular flow of income, equilibrium income determination, Keynesian model of national income. Theories of consumption, savings and investment. Multiplier and accelerator effect. International trade, Fixed and flexible exchange rates, Balance of trade and payments, Terms of Trade. Protectionism.