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MACRO ECONOMIC THEORY I

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Learning Outcomes

  • define the field of research and the fundamental conceptions of macroeconomics, and explain the relationships between macroeconomic variables.
  • implies the field of research of macroeconomics.
  • defines the fundamental conceptions of macroeconomics.
  • explains the relationships between variables.
  • explain reference models which are being topics to macroeconomics.
  • graphs the figures which are used in theory and models of Classical economy.
  • - defines the operation of Classical model in various markets.
  • graphs the figures which are used in Keynesian theory and models.
  • explains the main operation mechanism of Keynesian model.
  • implies the main differences between Classical and Keynesian models.
  • imply the relationships between money, interest and national income in closed and open economies.
  • explains and graphs the constitutions of the equilibrium levels of Goods and Money markets in a closed economy.
  • denotes the effects of monetary and fiscal policies which are applied in a closed economy.
  • states the effects of goods trade and capital movements on balance of payments in an open economies.
  • implies the effects of demand-led policies in fixed and floating exchange rate regimes.
  • explain aggregate demand and aggregate supply models.
  • graphs the aggregate demand curve.
  • explains causes of shifts in aggregate demand curve.
  • implies the operations of aggregate supply models.
  • states policies about different situations of aggregate demand and aggregate supply curves.
  • explains the effects and conclusions of supply shocks in economy.
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