1. Deﬁne Economics, identify the basic principles that underlie the study of Economics and describe the approach used by Economists to solve economic problems. 2. Explain the economic theory that drives trade among nations and discuss the beneﬁts
9/23/15, 10:07 PMConcourse | 259181: Principles of Economics: Macroeconomics (Online)
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nations derive from trading with each other. 3. Identify the determinants of Supply and Demand and demonstrate the impact of shifts in both market Demand and market Supply curves on Equilibrium Price and Quantity. 4. Deﬁne and measure National Income and the Rates of Unemployment and Inﬂation. 5. Deﬁne Economic Growth, identify the sources of Growth and discuss the reasons for diﬀerences in the development performance of countries. 6. Identify the phases of the Business Cycle and the problems caused by Cyclical Fluctuations in the market economy. 7. Deﬁne Money and describe the creation of Money by the Banking System. 8. Construct the Aggregate Demand and Aggregate Supply (AD-AS) model and use it to illustrate macroeconomic problems and potential Fiscal Policy and Monetary Policy solutions. 9. Examine the basic features of an open macroeconomy, develop a model that demonstrates the relationship between the market for Loanable Funds and the Foreign Exchange market and assess the implications of government policies on the Rate of Exchange and the Balance of Trade. 10. Demonstrate knowledge of macroeconomic concepts taught in the course by analyzing data on selected countries, writing reports on the economic performance of the countries under observation and oﬀering policy proposals designed to improve the macroeconomic performance of the countries.
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