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Learning Outcomes

  • explain Aggregate demand and aggregate supply model.
  • - draws aggregate demand curve graphically.
  • - explains the reasons for shifts in aggregate demand curve.
  • - implies operation of aggregate supply models.
  • states policies regarding to different cases of aggregate demand and aggregate supply curves.
  • denotes to the effects and the results of supply shocks in the economy.
  • explain business cycle and the theories of business cycle.
  • defines business cycle and denotes its features.
  • explains theories of business cycle.
  • explain definitions and approaches related to unemployment and inflation.
  • - explains the political orientation of iflation and unemployment.
  • indicates the costs of unemployment.
  • states the costs of İnflation.
  • draws the original Phillips curve, and explains the development of the Phillips curve and analyses the relations between inflation and unemployment with Phillips curve.
  • denotes the relationship between inflation rate and output.
  • explains stagflation and its varieties.
  • states the relations between money and inflation, and between inflation and interest rates.
  • explains aternative strategies to reduce inflation.
  • explains hiperinflation and its causes; specifies the necessary policies tostop hyperinflation.
  • explain budget deficits and external deficits, and approaches related to this deficits.
  • represents State budget, budget deficits and methods of financing of budget deficits.
  • discusses subject of sustainability of public deficits.
  • denotes the relationship between budget deficits and inflation.
  • specifies the various opinions on the effects of public debt.
  • explains supply-side approach to economics infiscal policy.
  • explain the theories of consumption.
  • explains Keynesian consumption function.
  • explains Life-Cycle Hypothesis
  • explains Permanent -Income Hypothesis
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