Module Aim: - To provide learners with a basic understanding of fundamental macroeconomic concepts
Market failure issues
Efficiency, externalities, public goodsGovernment economic policy objectives
National income accounting
Circular flow of income modelsNational income figures and their interpretationThe nations standard of living
National income determination
Open and closed economyComponents of aggregate demandThe multiplierCalculations
Introduction to aggregate supply and demand
Business cycleLong run and short run analysis
IS-LM framework in the closed economy
Derivation, slope and position of curvesInternal balanceKeynesian and monetarist approachesEffectiveness of fiscal and monetary policy
Money and Banking
Functions and types of moneyMoney creation by the commercial banksRole and functions of the central bank
Inflation and unemployment
Quantity theory of moneyCauses and types of inflationCauses and types of unemploymentShort and long-run Philips curve
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |