Course Number: EC230
Course Title: Macroeconomics

 STUDENT LEARNING OUTCOMES

General

 This course will introduce students to:

 - the nature of money
 - key concepts of National Income and Products Accounts
 - methods of measuring Gross Domestic and Gross National Product
 - components of GDP: C, I, G and X
- factors that determine the level of GDP/GNP
 - business cycles and economic stabilization - monetary and fiscal policy
 - inflation, recession and unemployment: types, causes, effects and remedies
 - issues in economic development

Specific

 The student will be able to:

 - explain the interdependence among household, business and government sectors in the operation of the economy
- describe the role of money and the banking system in the economy
- identify stages of the business cycle - peak, recession, depression and expansion
- analyze the role of economic stabilization policy, including fiscal and monetary policy, in influencing the direction of GDP,
  unemployment and inflation
- interpret the national budget - sources and expenditure of revenue and reasons for deficit and surplus budgets
- comprehend the methodology used to compute GDP in FSM
- identify problems faced by developing countries around the world
- analyze issues and alternatives in economic development