INTERMEDIATE MACROECONOMICS

Course Description

In this course, the students will build on and apply what they learned in ECON102: Principles of Macroeconomics. They will use the concepts of output, unemployment, inflation, consumption, and investment to study the dynamics of an economy at a more advanced level. For example, now that they understand the relationship between supply and demand in general terms, they will be asked to examine the effects that short-run and long-run price changes have on full employment and output. As the course progresses, they will gain a better appreciation for how policy shifts and changes in one sector impact the rest of the macroeconomy (whether the impacts are intended or unintended).

INTERMEDIATE MACROECONOMICS

Evaluation Tools (Active Term)

No evaluation items have been defined.

Course outcomes

1. 01 To analyze the earth and its human populations as a joined social-environmental and economic system 4
2. 02 To engage and equip students to serve as a “general practitioner” supporting the pursuit of sustainability 4
3. 03 To interpret concepts and skills that have proven useful for helping citizens, corporations, governments and other social actors. 4
4. 04 To express shared goals for sustainable development of their social-environmental system and assess Progress (or lack thereof) toward achieving those goals 3
5. 05 To articulate obstacles to further progress and identify opportunities for overcoming those obstacles 2
6. 06 To apply transfer theory knowledge into action for pursuing and achieving sustainable development goals 5

Course Syllabus

Reference Books & Course Materials

1. 01 Andrew B. Abel; Ben S. Bernanke; Dean Croushore (2021) Macroeconomics, 10th ed, Pearson
2. 02 Global edition ISBN13: 978-1-292-31861-5

Learning Outcomes

1. L01 To construct market equilibrium conditions and aggregation SOLO 4
2. L02 To apply analysis on the variables of stock or flow SOLO 3
3. L03 To define macroeconomic variables SOLO 2
4. L04 To prove the notion of the natural rate of unemployment. SOLO 3
5. L05 To summarize the complex wage determination process. SOLO 4
6. L06 To theorize efficient production, production function, output, and productivity. SOLO 5

Program Outcomes

1. P01 PO1: Engaged in insightful thinking leading to self-learning and lifelong learning.
2. P02 PO2: Established a general knowledge of economics sufficient to work independently through specific learned techniques generated via individual efforts and study.
3. P03 PO3: Reached the required knowledge and skills to understand social, economic and legal issues both within national, international and global contexts and apply theoretical knowledge of economics to practice.
4. P04 PO4: Adopted the ability to critically evaluate, analyze and interpret information gathered through the use of related statistical software programs to suggest creative solutions for economic problems and make relevant economic decisions.
5. P05 PO5: Been aware of gathering and analyzing data through the application of appropriate technological tools in an ethical and safe manner in order to generate economic decisions and policy suggestions.
6. P06 PO6: Been equipped with conceptual and analytical skills essential for team-working and collaborations for economic decision making for a variety of economic concepts in national and global environment.
7. P07 PO7: Endowed with both oral and written communication skills within the economic field to effectively study and work in an international environment
8. P08 PO8: Been able to transfer theoretical knowledge to real life economic environment: to generate policies for microeconomic and macroeconomic problems faced by individuals, firms and governments at national, international and global context.
9. P09 PO9: Developed an ability to apply economic analysis to everyday problems in real world through the development of ethical perspectives and social responsibilities at work and in personal life.

Po-Lo Matrix