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Lecture Macroeconomics: Lecture 1 - Prof. Dr.Qaisar Abbas

Lecture 1 - The science of macroeconomics. The main contents of the chapter consist of the following: The issues macroeconomists study, the tools macroeconomists use, some important concepts in macroeconomic analysis. | Macroeconomics Course instructor: Prof. Dr. Qaisar Abbas Course objectives Introduction to Macroeconomics Learning the key concepts of Macroeconomics Application of Macroeconomic knowledge in real life situations Textbooks Core Textbook Macroeconomics by N. Gregory Mankiw- Latest edition Supplementary reading Economics by Samuelson Nordhaus- latest edition Course Outline The Science of Macroeconomics 2. The Data of Macroeconomics 3. National Income: Where It Comes From and Where It Goes 4. Economic Growth 5. Unemployment 6. Money and Inflation 7. The Open Economy 8. Introduction to Economic Fluctuations 9. Aggregate Demand I Course Outline 10. Aggregate Demand II 11. Aggregate Supply 12. Macroeconomic Policy debate 13. The open economy in the short run 14. The theory of real Business cycles 15. Consumption 16. The debates over government debt 17. Investment 18. Money Supply and Money Demand Grading Quiz 10% Assignments 15% First Sessional 10% Second Sessional 15% Final 50% Lecture 1 | Macroeconomics Course instructor: Prof. Dr. Qaisar Abbas Course objectives Introduction to Macroeconomics Learning the key concepts of Macroeconomics Application of Macroeconomic knowledge in real life situations Textbooks Core Textbook Macroeconomics by N. Gregory Mankiw- Latest edition Supplementary reading Economics by Samuelson Nordhaus- latest edition Course Outline The Science of Macroeconomics 2. The Data of Macroeconomics 3. National Income: Where It Comes From and Where It Goes 4. Economic Growth 5. Unemployment 6. Money and Inflation 7. The Open Economy 8. Introduction to Economic Fluctuations 9. Aggregate Demand I Course Outline 10. Aggregate Demand II 11. Aggregate Supply 12. Macroeconomic Policy debate 13. The open economy in the short run 14. The theory of real Business cycles 15. Consumption 16. The debates over government debt 17. Investment 18. Money Supply and Money Demand Grading Quiz 10% Assignments 15% First Sessional 10% Second Sessional 15% Final 50% Lecture 1 The Science of Macroeconomics Instructor: Prof. Dr.Qaisar Abbas Lecture Contents The issues macroeconomists study The tools macroeconomists use Some important concepts in macroeconomic analysis Macroeconomics Def The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels. Important issues in macroeconomics Why does the cost of living keep rising? Why are millions of people unemployed, even when the economy is booming? Why are there recessions? Can the government do anything to combat recessions? Should it?? This slide and the next contain a list of some topical issues that macro can help students understand. Feel free to substitute others as new issues emerge. Important issues in macroeconomics What is the government budget deficit? How does it affect the economy? Why does the U.S. have such a huge trade