Macro-Economic Theory Ii

1. Understand the key macroeconomic indicators and their interrelationships.
2. Analyze the determinants of national income and economic growth.
3. Evaluate the role of monetary and fiscal policies in stabilizing the economy.
4. Assess the causes and consequences of inflation and unemployment.
5. Understand the principles of international trade and finance.
6. Apply macroeconomic theories to real-world economic issues.

13 weeks, about 30 hours in total. Yours will differ.

1. Week 1Module 1: National Income Models

   • Unit 1: National Income Model · 2 hours

     Define national income and its relationship to national dividend, output, and expenditure.. Understand the classical and Keynesian models of national income determination.. Analyze the interrelationship between aggregate savings, consumption, and investment..

2. Week 2Module 1: National Income Models

   • Unit 2: Determinant of Equilibrium National Income · 2 hours

     Examine the determinants of equilibrium national income in an open economy.. Calculate the multiplier effect in an open economy.. Apply numerical analysis to determine national income equilibrium..

3. Week 3Module 1: National Income Models

   • Unit 3: National Income Accounting · 2 hours

     Understand the meaning and methods of calculating national income accounting.. Differentiate between income, expenditure, and output approaches.. Calculate GDP, GNP, NDP, NNP, PI, DI, and PCI using numerical data..

4. Week 4Module 1: National Income Models

   • Unit 4: The circular flow, Uses and Problems of National Income · 2 hours

     Explain the circular flow of income in two and three-sector models.. Identify the uses of national income data for economic planning.. Discuss the problems encountered in measuring national income..

5. Week 5Module 2: Concepts of Money Demand and Supply

   • Unit 1: The concept of Money Demand and Supply · 2 hours

     Define demand and supply of money.. Explain the motives for holding money.. Analyze the determinants of demand and supply of money..

6. Week 6Module 2: Concepts of Money Demand and Supply

   • Unit 2: Some selected theories of Demand for Money · 2 hours

     Compare and contrast the Classical, Cambridge, and Keynesian approaches to the demand for money.. Understand the key equations and variables in each approach.. Analyze the policy implications of each theory..

7. Week 7Module 2: Concepts of Money Demand and Supply

   • Unit 3: Central Bank and Money Supply · 2 hours

     Describe the historical background of the Central Bank of Nigeria (CBN).. Explain the traditional and developmental functions of the CBN.. Analyze the role of the CBN in controlling money supply in Nigeria..

8. Week 8Module 3: Concept of Unemployment

   • Unit 1: Concept of Unemployment · 2 hours

     Define unemployment and differentiate it from underemployment.. Identify and explain the different types of unemployment.. Discuss the meaning of full employment from classical and Keynesian perspectives..

9. Week 9Module 3: Concept of Unemployment

   • Unit 2: Causes and Effect of Unemployment · 2 hours

     Identify the causes of unemployment, including recessions, over-regulation, and skills gaps.. Examine the effects of unemployment on individuals and the economy.. Discuss strategies to control unemployment, such as infrastructural development and human capital development..

10. Week 10Module 3: Concept of Unemployment

    • Unit 3: Unemployment in Nigeria · 2 hours

      Analyze the historical background of unemployment in Nigeria.. Evaluate the effects of unemployment on the Nigerian economy.. Assess policy controls to combat unemployment in Nigeria..

11. Week 11Module 4: Inflation and price level

    • Unit 1: Inflation and price level · 2 hours

      Define inflation and differentiate between demand-pull and cost-push inflation.. Explain the causes and effects of inflation on the economy.. Discuss demand management and supply-side policies to control inflation..

    • Unit 2: Inflation and Deflation · 2 hours

      Define deflation and compare it with inflation.. Examine the effects and control of deflation.. Analyze the relationship between deflation and unemployment..

12. Week 12Module 4: Inflation and price level

    • Unit 3: Inflation and Unemployment · 2 hours

      Understand the relationship between inflation and unemployment.. Use the Phillips Curve to illustrate the trade-off between inflation and unemployment.. Explain the phenomenon of stagflation and discuss Taylor's Rule and the NAIRU proposition..

13. Week 13Final Revision

    • Final Revision · 4 hours

      Review all modules and units.. Work on assignments and prepare for final examination..