The Study of Society

This course introduces key economic indicators, the role of government in an economy, the measurement of gross domestic product, components of aggregate demand, consumption function and Keynesian multiplier, investment function, government intervention through monetary and fiscal policies, the impact of government intervention on economic activity, inflation and unemployment, aggregate supply and demand, balance of payments and trade, public finance, growth, and development.

After completing this course, the student will be able to:

1. Analyze the significant concept of macroeconomics.

2. Explain how the level of national income is determined and measured.

3. Analyze the concepts of Consumption, saving and investment.

4. Explain the production function and return to scale.

5. Demonstrate an understanding of demand labor and labor supply.

6. The role of money and the relation between money and inflation.