Course overview
The aim of this course is to provide students with an understanding of issues surrounding economic growth and development, and of business cycles, and to critically analyse the policy actions and responses of governments, central banks and other policymakers. The course covers contemporary issues associated with long and short run economic growth and development; the labour market and its relationship with wages and unemployment rates; applications of investment-savings and Phillips curve models in relation to inflation rates and output fluctuations; the dynamic aggregate demand/aggregate supply model and policy responses of Central Bank; exchange rates and open economy/macroeconomy as well as the role of Government and federal budgets.
Course learning outcomes
- Critically review the major theories of long-run economic growth, as well as the importance of factors explaining the long-run growth and development processes.
- Critically evaluate and explain the different roles of government, central banks, international institutions, the private sector, and individuals in addressing issues pertaining to economic growth, development and business cycles
- Critically evaluate the effectiveness and efficiency of various policy responses in addressing inflation and economic growth.
- Demonstrate problem-solving and international perspective skills to develop globally informed decisions on economic integration and policy coordination.