Advanced Macro Economics Theory
- Social Sciences
- 700 level
- 3 credit units
- 156 pages
- 29 units
This course, Advanced Macroeconomic Theory (ECO 712), provides an in-depth understanding of advanced macroeconomic concepts and theories. It covers topics such as income determination, consumption and investment functions, classical and Keynesian theories, inflation, business cycles, and macroeconomic policy models. The course also explores the rationale for the public sector, national economic policy formulation, and balance of payments. Students will develop critical thinking skills and learn to evaluate economic arguments.
About this course
- Difficulty
- Intermediate
- Study hours
- 208 hours
- Maths
- Intermediate
- Content
- Theoretical, case study
- Practical work
- No
- Assignments
- Tutor marked assignments
- Final examination
What you'll read
The real module and unit structure of ECO712, taken from the course material NOUN publishes.
One paragraph, so you can see how it reads
ECO712 · UNIT 1: AN OVERVIEW OF MACROECONOMICS ANALYSIS
In this unit, we conclude that in everyday usage, macroeconomic involves anything that connect or concern the entire economy, which is the “elephant economy”. We equally conclude the nature of macroeconomics has to do with what macroeconomics entails, that is the characterization of macroeconomic theories.
What you should be able to do
- Understand macroeconomic concepts and theories.
- Analyze consumption, saving, and investment functions.
- Evaluate classical and Keynesian models.
- Apply macroeconomic policy instruments.
- Explain the theory of economic growth and development.
What it prepares you for
- Economist
- Policy Analyst
- Financial Analyst
- Investment Banker
- Economic Consultant
- Government
- Banking
- Finance
- Consulting
- Research
Where it gets hard
The units students slow down on, and what makes each one heavy.
- Module 5:
Unit 2: The Classical and Keynesian Models
Requires understanding of complex mathematical relationships and equilibrium conditions in both closed and open economies.
- Module 7:
Unit 2: Some Selected Theories of Demand for Money
Involves understanding various motives for holding money and their impact on monetary policy effectiveness.
A suggested way through it
13 weeks, about 56 hours in total. Yours will differ.
- Week 1Module 1: An Overview of Macroeconomics Analysis
Unit 1: An Overview of Macroeconomics Analysis · 3 hours
Read Unit 1: Understand the definitions and meaning of macroeconomics.. Identify the characteristics and nature of macroeconomics.. Review the contributors to macroeconomic evolution..
Unit 2: Distinction between Macroeconomics and Microeconomics · 3 hours
Read Unit 2: Understand the various definitions of macroeconomics and microeconomics.. Understand the concepts and analysis of both theories and principles.. Distinguish between macroeconomics and microeconomics..
- Week 2Module 1: An Overview of Macroeconomics Analysis
Unit 3: Essential tools of Macroeconomics analysis · 3 hours
Read Unit 3: Know the various tools of macroeconomic analysis.. Distinguish among these tools of macroeconomic analysis.. Understand the rudiments of macroeconomic tools and their application..
Unit 4: Macro-Statics, Comparative Static and Macro-Dynamics · 3 hours
Read Unit 4: Understand macroeconomic static analysis.. Understand macroeconomic comparative static analysis.. Distinguish among the aforementioned macroeconomic analysis..
- Week 3Module 2:
Unit 1: Consumption Concept · 4 hours
Read Unit 1: Understand the concept of consumption.. Identify and explain both consumption function and graph.. Review the relationship between consumption, saving, and income..
- Week 4Module 2:
Unit 2: Determinants and derivation of consumption function from a given saving function. · 4 hours
Read Unit 2: Derive consumption function from a given saving function.. Determine factors that influence consumption expenditures.. Analyze the relationship between consumption and saving..
- Week 5Module 2:
Unit 3: Theories of Consumption · 4 hours
Read Unit 3: Understand the theories of consumption.. Differentiate among all consumption theories.. Compare the theories and determine factors that influence consumption..
- Week 6Module 3:
Unit 1: An Introduction to the Concept of Saving · 4 hours
Read Unit 1: Understand the concept of saving.. Identify and explain both the saving function and curve.. Understand the relationship among saving, consumption, and investment..
- Week 7Module 3:
Unit 2: The Determinants and Derivation of Saving · 4 hours
Read Unit 2: Derive saving function from consumption function.. Know those factors that determine saving.. Understand relationship between saving and investment..
- Week 8Module 4:
Unit 1: Concept of Investment · 4 hours
Read Unit 1: Recognize both saving and investment function.. Understand Relationship between investment and saving.. Understand those factors that determine investment..
- Week 9Module 4:
Unit 2: Types and Determinant of Investment · 4 hours
Read Unit 2: Understand the concepts of Investment Expenditure.. Explain clearly the two types of investment.. Understand those factors that determine Investment expenditure..
- Week 10Module 4:
Unit 3: Some Selected Theories of Investment · 4 hours
Read Unit 3: Explain different investment theories.. Relate investment at a certain time to level of profit.. Understand the concepts of Investment Expenditure..
- Week 11Module 5:
Unit 1: National Income Models · 4 hours
Read Unit 1: Understand the concepts of National Income Models.. Understand and explain all National income concepts.. Understand those factors that determine National Income Accounting..
- Week 12Module 5:
Unit 2: The Classical and Keynesian Models · 4 hours
Read Unit 2: Understand the concepts of National Income Models.. Understand Classical and Keynesian Models.. Understand the relationship between Classical and Keynesian Models..
- Week 13Module 5:
Unit 3: The Concept of the Multiplier · 4 hours
Read Unit 3: Understand the Concept of the multiplier introduction.. Understand the Geometrical illustration of the multiplier.. Understand the Algebraic determination of the multiplier..
Preparing for the exam
- Review all study units and focus on key concepts and definitions.
- Practice solving numerical problems related to national income accounting and multiplier effects.
- Create summaries of the main theories of consumption, saving, and investment.
- Compare and contrast classical and Keynesian perspectives on macroeconomic issues.
- Study the different types of macroeconomic policies and their potential impacts on the economy.
Questions students ask about this course
What is ECO712 about?
This course, Advanced Macroeconomic Theory (ECO 712), provides an in-depth understanding of advanced macroeconomic concepts and theories. It covers topics such as income determination, consumption and investment functions, classical and Keynesian theories, inflation, business cycles, and macroeconomic policy models. The course also explores the rationale for the public sector, national economic policy formulation, and balance of payments. Students will develop critical thinking skills and learn to evaluate economic arguments.
How many units does ECO712 have?
ECO712, Advanced Macro Economics Theory, has 29 units across 10 modules, over 156 pages of course material. You can read it one unit at a time.
How many credit units is ECO712?
ECO712 carries 3 credit units, at 700 level in Social Sciences.
Is ECO712 hard?
ECO712 is rated intermediate level, with intermediate mathematical content. It is mostly theoretical and case study work.
How long does ECO712 take to study?
About 208 hours of study, spread across its 29 units.
How is ECO712 assessed?
ECO712 is assessed by assignments, tutor marked assignments and final examination.
What can I do with ECO712?
Economist, Policy Analyst, Financial Analyst, Investment Banker and Economic Consultant.