COURSE: INTRODUCTION TO MACRO ECONOMICS (ECO

121)

Course Instructor: Uzma Afzal

SYLLABUS
1. INTRODUCTION: Macroeconomics Issues. Introduction to
Economic Growth and Instability. The Economy: Private and
Public Sectors; The Economy in the Global Economy

2. NATIONAL INCOME AND OUTPUT: Measuring Domestic Output;

National Income and Private Level; Building the Aggregate
Expenditure Model; Aggregate Expenditures; The Multiplier; Net
Exports and Government; National Income and Price in the Short
Run; National Income in the Long Run. The basic theory of Fiscal
Stabilization.

3. MONEY, BANKING AND MONETARY POLICY: the Role of Money in

Macroeconomics; The Balance of Payments and exchange Rates;
Monetary Policy; Macroeconomic Policy in Open Economy.

Core Reading List:

1. McConnell Brue, Economics Principles, Problems and Policies.,

17th Edition.
2. Lipsey & Chrystal, An Introduction to Positive Economics, 8th
Edition.
 COURSE: INTRODUCTION TO MACRO ECONOMICS (ECO
121)

Course Objective: the basic objective of this course is to familiarize

the students with a working knowledge of Macroeconomics. To build a
thorough understanding of the different perceptions of Macroeconomic
policies that have changes radically in the past few years. We will be
discussing both the old and the relatively recent views in this course.

Teaching Strategy: The lecture will be divided into two parts the first
being 1 hour long in which the text will be explained, followed by a 45
minutes discussion session, devoted to using and applying the
knowledge gained in class through individual as well as group
activities. Primarily, these sessions will consist of case studies, problem
sets, presentations and most importantly of all the quizzes. The
students should be prepared to expect a quiz in the class after the
completion of a chapter. Attendance of 90% is compulsory throughout
the semester and failing to comply with this will result in negative
marks on the final grade. (For every absent class 1% will be deducted
from the final attendance marks).

Final assessment Criteria:

Final Exam 40%

Mid term 20%
Quizzes 20%
Assignments and 10%
group presentations
Attendance 5%
Final Presentation 5%
 COURSE: INTRODUCTION TO MACRO ECONOMICS (ECO
121)

LECTURE SESSIONS
DISCUSSION SESSIONS
1. Introduction To Economic Growth and McConnell Bruce Chap. 7
Stability Discussion
Assignment 1
2. The Us Economy: Private and Public McConnell Bruce Chap. 4
Sectors Discussion
Assignment 2
3. The United States in the Global McConnell Bruce Chap. 5
Economy Discussion
Assignment 3
4. The United States in the Global McConnell Bruce Chap. 5
Economy Discussion
Assignment 4
5. Quiz 1 ( chapters 4 5 & 7) Quiz 1 ( chapters 4 5 & 7)

6. Measuring Domestic Output and McConnell Bruce Chap. 6

National Income Discussion
Assignment 5
7. Measuring Domestic Output and McConnell Bruce Chap. 6
National Income Discussion

8. Investment, equilibrium GDP, other Case Study/ Reading: Baby boomers

features of equilibrium GDP fail as Born-Again savers

9. Basic Macroeconomics Relationships McConnell Bruce Chap. 8

Discussion
Assignment 6
10.The Aggregate Expenditures Model McConnell Bruce Chap. 9
Discussion
11.Presentation Problem Set

12.Quiz 2( Chap. 6 8 and 9) Quiz 2( Chap. 6 8 and 9)

13.Mid-Term Exam Mid-Term Exam

14.National Income and Price Level in Lipsey Chap. 31

the Short Run

15.Changes in National Income and the Midterm Review Session

price level, equilibrium national
income and the price level

16.Lecture Continued Case Study/ Reading: Carnage on the

COURSE: INTRODUCTION TO MACRO ECONOMICS (ECO
121)
Coast

17.National Income and Price Level in Lipsey Chap. 32

the Long Run Presentation

18.National Income in the short run and Case Study/ Reading: Economists
the long run, fiscal Policy and the urge investing stimulus
business cycle.

19.The Role of money in Lipsey Chap. 36

Macroeconomics Discussion

20.Aggregate Demand, the price level
and the national income.
21.Quiz 2( Chap. 31 32 and 36 )
Case Study/ Reading: Bush offers a
plan to end the recession in this
election year
Assignment 7
Quiz 2( Chap. 31 32 and 36 )

22.The Balance of Payments and the Case Study/ Reading: US Exports fell
Exchange Rates by 2.2% in December reflecting
Global Economic slowdown. Lipsey
Chap. 37
23.The Determination Of exchange rates Case Study/ Reading: European
monetary union.
24.Monetary Policy Lipsey Chap. 38
Assignment 8
25.Macroeconomic policy in an open Lipsey Chap. 39
economy

26.Final Presentation Final Presentation

27.Final Presentation Final Presentation

28.Final Exam Final Exam