EC101: Principles of Macroeconomics

Macroeconomics deals with the behaviour of the whole economy. This course is an introductory course in macroeconomics. It is designed primarily to familiarize students with the basic theory of income/output determination - what determines the level of national income and output in modern economies

In addition, this course expound on theories of aggregate economic activity in the national economy and its link with the rest of the world. Emphasis is placed on basic principles involved in the determination of the level of national output, the aggregate price level, money supply, interest rate, exchange rate, balance of payments, government deficit, national debt, fiscal and the monetary policies. It further provides a broad understanding of economic growth theory and its implications for the economy.

 The main goal of the course is to provide students with basic understanding of the broad macroeconomic issues concerning the economy and to enable them to understand and analyze relationships among macroeconomic variables and markets/industry/sectors within the national economy and being part of the global economic system. 

The course content has been organized in such a way that student gets a mixture of descriptive material, theoretical insights, and policy dialogues. As you can expect, the level of difficulty of the subject-matter will increase as we progress through the course - the later chapters containing more difficult materials than the earlier ones and requiring greater patience and perseverance with the course material.

 One key thing about the organization of the course material is the fact that progression of the theme of macroeconomics is like a story telling or seeing a feature film. This means that all parts of the course material are linked - you cannot pick and choose the topics (chapters/lectures), do some and skip the others. Such a pick-and-choose approach will make the course material unnecessarily difficult and class presentation immensely confusing.