Principles Of Macroeconomics

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Course Title | Introduction to MacroeconomicsSpring 2013 |

CourseProvider | Faan Louw | TeachingLanguage | English |

Level of Students | Grade 1 | Course Duration | 48 hours |

Code | UY122 | Credits | 3 | Category | Economics |

Objective & Overview of the Course | This course sets the foundation of learners’ understanding of the principles of macroeconomics, and the role that it plays in economic life as a whole. As such, it describes the vital concepts of macroeconomics. Specifically, the course aims to introduce the learner to basic economic concepts, such as National Income, Cost of Living (inflation), Production (growth), Savings and Investment, Unemployment, Money, Aggregate demand and Aggregate Supply, and Monetary and Fiscal Policy. |

Learning Outcomes | Students will be able to: * Define the key macroeconomic concepts. * Explain these concepts within a specific context, such as the long run and the short run. * Describe and explain the role and functions of national production, consumption, investment, savings and imports and exports, money, inflation and interest rates, and unemployment and inflation. * Calculate theoretical concepts such as national income, unemployment, money multiplier, and long-run and short-run equilibrium. * Derive, at least, at a theoretical level most of the above mentioned economic concepts using graphs and numerical examples. |

Teaching Methods | The teaching method followed in this course comprises lectures, class discussions, case studies and continuous assessment. The lecturer will use the constructivist approach to learning by introducing the fundamental theoretical concepts and principles to students. Students will participate by submitting a mind-map of the relevant chapter. The lecturer will then further elaborate in class on theoretical concepts and principles. The student will then be given the opportunity to embed these principles with the help of relevant class discussions and exercises, in class tests, Case studies and any other activity decided upon by the lecturer. All learning activities will count towards a final semester mark. In-class discussion will be encouraged, and, to that end, students are expected to enter the classroom armed with prior knowledge obtained by reading the relevant chapter(s) in the textbook and the required mind-map.In order to ensure that students remain up-to-date with their studies, quizzes will be submitted weekly. These quizzes will form part of the formal assessment process. |

Syllabus | No. | Contents | Week 1 | Introduction of course material, syllabus, class introductions. Chapter 23: Measuring a Nation’s IncomeCase study: Announced in class | Week 2 | Chapter 24: Measuring the Cost of LivingStudents to submit in class: * Mindmap of Chapter 24 * Quiz on Chapter 23Case study: Announced in class | Week 3 | Chapter 25: Production and GrowthStudents to submit in class: * Mindmap of Chapter 25 * Quiz on Chapter 24Class test: A 20-minute class test on chapters 24 and 25 | Week 4 | Chapters 26 & 27: Saving, Investment and the Financial System & The Basic Tools of FinanceStudents to submit in class: * Mindmap of Chapter 26 & 27 * Quiz on Chapter 25.Case study: : Announced in class | Week 5 | Chapters 28: Unemployment Students to submit in class: * Mindmap of Chapter 28 * Quiz on Chapter 26 & 27Class test: A 20-minute class test on chapters 26 & 27 and 28 | Week 6 | Midterm Examination week. The date, time, and venue of the midterm test will be made available to students in due course. The midterm test will cover Chapters 22 – 28 in the prescribed textbook. | Week 7 | Chapter 29: The Monetary SystemStudents to submit in class: * Mindmap of Chapter 29 * Quiz on Chapter 28Case study: To be announced in class | Week 8 | Chapters 30: Money Growth and InflationStudents to submit in class: * Mindmap of Chapter 30 * Quiz on Chapter 29.Class test: A