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ECO341Social Sciences3 Unitsintermediate

Macro-Economic Theory I

This course, Macroeconomics Theory (ECO301), is a semester core course designed for third-year economics students. It provides an in-depth understanding of macroeconomic theory, covering topics such as saving, consumption, investment, national income models, and classical and Keynesian systems. The course also explores the theory of money, macroeconomic policy models, price levels, internal and external balance, and economic growth theory. It aims to equip students with critical thinking skills and the ability to evaluate economic arguments.

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45h
Study Time
13
Weeks
3h
Per Week
intermediate
Math Level
Course Keywords
MacroeconomicsNational IncomeConsumptionInvestmentEconomic Growth

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Macroeconomics

2

National Income Models

3

Consumption and Saving

4

Investment

5

Money and Banking

6

Economic Growth

Total Topics6 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Tutor-Marked Assignments

Comprehensive evaluation of course material understanding

Written Assessment

Final Examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Economist

Apply your skills in this growing field

Financial Analyst

Apply your skills in this growing field

Policy Analyst

Apply your skills in this growing field

Market Research Analyst

Apply your skills in this growing field

Investment Banker

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

BankingFinanceGovernmentConsultingResearch

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

4h

Unit 1: Macroeconomics Concept: An Overview

2 study hours
  • •Define macroeconomics and its scope.
  • •Distinguish between macroeconomics and microeconomics.
  • •Discuss the contributions of key figures like Ragnar Frisch and John Maynard Keynes.

Unit 2: Basic Tools of Macroeconomic Analysis.

2 study hours
  • •Identify and explain the basic tools of macroeconomic analysis: verbal statements, graphs, and equations.
  • •Practice using graphs to illustrate economic relationships.
  • •Understand the application of mathematical models in macroeconomics.
Week
2

Module 1:

3h

Unit 3: Macro Statics, Macro Dynamics and Comparative Statics

3 study hours
  • •Differentiate between macro statics, macro dynamics, and comparative statics.
  • •Analyze economic situations using each of these methods.
  • •Understand the limitations of each approach.
Week
3

Module 2:

4h

Unit 1: The Concept of Consumption and Savings

2 study hours
  • •Define consumption and saving.
  • •Explain the consumption and saving functions.
  • •Understand the relationship between consumption, saving, and income.

Unit 2: Determinants and Derivations of Consumption and Saving functions and Graph (Curves)

2 study hours
  • •Derive consumption and saving functions.
  • •Identify the determinants of aggregate saving and consumption expenditure.
  • •Analyze the relationship between consumption and saving.
Week
4

Module 2:

3h

Unit 3: The Theories of Consumption

3 study hours
  • •Compare and contrast the absolute income hypothesis, relative income hypothesis, permanent income hypothesis, and life cycle income hypothesis.
  • •Understand the theoretical factors that influence consumption.
Week
5

Module 2:

3h

Unit 4: The Theories of Interest Rate

3 study hours
  • •Compare and contrast the classical theory of interest, the loanable funds theory, the Keynesian theory, and the modern theory of interest.
  • •Understand the IS-LM framework.
Week
6

Module 3:

4h

Unit 1: Concept of Investment: An Introduction

2 study hours
  • •Define investment and its components.
  • •Explain the investment function and its graph.
  • •Understand the relationship between savings and investment.

Unit 2: Types and Determinants of Investment.

2 study hours
  • •Distinguish between autonomous and induced investment.
  • •Identify the determinants of investment function.
  • •Understand the theoretical determinants of investment.
Week
7

Module 3:

3h

Unit 3: Some Selected Theories of Investment.

3 study hours
  • •Compare and contrast the accelerator theory of investment, the flexible accelerator theory, and financial theories of investment.
  • •Understand the role of profits and cash flow in investment decisions.
Week
8

Module 4:

3h

Unit 1: National Income Models: An Overview

3 study hours
  • •Explain national income models in closed and open economies.
  • •Define national income concepts such as GDP, GNP, NNP, NI, PI, and Yd.
  • •Compare and contrast Classical and Keynesian models.
Week
9

Module 4:

3h

Unit 2: Concept of Multiplier

3 study hours
  • •Define the concept of multiplier.
  • •Illustrate the multiplier effect geometrically.
  • •Determine the multiplier algebraically.
Week
10

Module 4:

3h

Unit 3: Inflationary and Deflationary Gaps

3 study hours
  • •Define full employment equilibrium.
  • •Explain inflationary and deflationary gaps.
  • •Understand the causes and consequences of these gaps.
Week
11

Module 5:

3h

Unit 1: Money and the Barter System

3 study hours
  • •Define money and the barter system.
  • •Discuss the problems associated with the barter system.
  • •Explain the relationship between the barter system and counter trade.
  • •Discuss the features and functions of money.
Week
12

Module 5:

3h

Unit 2: Evolution and Nature of Money

3 study hours
  • •Explain the historical evolution of modern money.
  • •Describe the nature and types of money.
  • •Understand the impact of inflation on money.
Week
13

Module 5:

3h

Unit 3: Demand and Supply of Money

3 study hours
  • •Explain the determinants of money supply.
  • •Discuss the motives for demanding money.
  • •Understand the quantity theory of money.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create concept maps linking macroeconomic variables (GDP, inflation, unemployment).

2

Practice deriving consumption and saving functions from given data.

3

Review the assumptions and limitations of each macroeconomic model.

4

Focus on understanding the relationships between monetary and fiscal policy instruments and their effects.

5

Solve numerical problems related to multiplier effects and equilibrium income determination.

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