MACROECONOMICS (ECON 202)

OVERVIEW

1. COURSE DESCRIPTION

Macroeconomics is a foundation subject of Business Administration, Accounting, Economics, Banking, Finance, Marketing which deals with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes n \ational, regional, and global economies. This course aims to introduce the students to the concepts of economic structure, long-run macroeconomic performance, business cycles and environment and institutions of macroeconomic policy that influence the business performance and activities.

2. REASON FOR THE COURSE

This course aims to give students a wider range of macroeconomic issues by using theory or models which can be applied to the real world, society, and business. There are three main goals.  First, students will be able to discuss the basic measurement of national accounts in both close and open economies, inflation, unemployment, and economic performance. Second, students will be able to understand and analyze the concepts of developing economies and growth, Macroeconomic policies, and Labor markets.  Third, students will be able to apply economic policies and apply them to real world issues.

3. STUDY HOURS

4. ROLE IN CURRICULUM


Prerequisites:
There are no prerequisites for this course.  However, students will benefit from a basic  understanding of statistics and microeconomics.

SKILLS

  • LEARNING OUTCOMES
  • ASSESSMENT AND GRADING
  • TEACHING METHODS
  • STUDY PLAN
  • TEXTBOOKS AND REFERENCES

5. COURSE LEARNING OUTCOMES (CLO)

On successful completion of this course, students will be able to:

Knowledge Level of
Learning		 Related PLO
Describe macroeconomic concepts (CK1)
Describe the measurement of GDP, the basic concept of budget deficit and source of financing, the basic concepts of consumption, savings, investment in closed and open economies and how they affect international finance and the balance of payments.		 Understand PK1
Explain economic growth (CK2)
Explain the approach of production including impacts of changing in the labor market, and productivity, sources of economic growth in the long-run and the effects of government fiscal and monetary  policies.		 Understand PK2
Cognitive Skills Level of
Learning		 Related PLO
Apply economic policies (CC1)
the economic policies on business cycles from the effects of government policies for generating GDP, controlling inflation, and unemployment in Cambodia.		 Apply PK3
Analyze the structure and functioning (CC2)
Analyze the structure and functioning of government spending based on The Keynesian multiplier,  fiscal policy, and monetary policy and apply these policies to the real world issue.		 Analyze PC1
Communication, Information Technology, and Numerical Skills Level of
Learning		 Related PLO
Prepare calculation tables for GDP, CPI, and Output (CCIT1)
Prepare calculation tables for measurement of GDP, CPI, and production by using spreadsheets.		 Analyze PCIT2
Interpersonal Skills and Responsibilities Level of
Learning		 Related PLO
Work in team (CIP1)
Collaborate in team activity in conducting research and writing research reports.		 Respond PIP1

 

6. ASSESSMENT AND GRADING

Grades will be determined based on a grading score, calculated using the following assessments and score allocations:

SKILL CLO Assessment and Scoring Weighting for Course Grade
In-class Tests Research Paper/ Assignments Midterm Case study Final Case study
Describe macroeconomic concepts (CK1) 40% 30%  30% 10%
Explain economic growth (CK2)  60% 20% 20% 20%
Apply economic policies (CC1) 100% 20%
Analyze the structure and functioning (CC2) 50% 20% 30% 20%
Prepare calculation tables for GDP, CPI, and Output (CCIT1) 60% 20% 20% 20%
Work in a team (CIP1) 100% 10%

7. TEACHING METHODS

This course is basically a mixed lecturer and student center. The students are provided lectures, in-class exercises, homework, and assignments. They are assigned to read the textbook and other references to read in order to support their learning. During class, approximately two-third of the class will be devoted to lecture with the rest of the class for discussion, exercises, and question-answer.

Assignment: Sector Growth Analysis (All CK, All CC, CCIT1, CIP1 )
Work Group: Group
Output format: APA Format Report
Language: English
Description:

The assignment requires group of students to research and evaluate and/or estimate growth of an economic sector in Cambodia on movement of labor, capital, and goods and services from/to Cambodia to/from other nation. This is desk research which requires linear  regression. Assignment Rubric:

8. STUDY PLAN

The course targets the 30 lessons in the study plan below. Each lesson is 1.5 class hours each; there are a total of 45 class hours.  The study plan below describes the learning outcome for each lesson, described in terms of what the student should be able to do at the end of the lesson.  Readings should be done by students as preparation before the start of each class.  Implementation of this study plan may vary somewhat depending on the progress and needs of students.

No Lesson Learning Outcomes Teaching and Learning Activities, Assessment
 1

Measuring National Income

  1. Describe the income and expenditure
  2. Measure the GDP (CK1, CK2, CCIT1)
 Lecture
Demonstration of graph
Reading:
Chapter 24 pp: 491-496
2

Measuring National Income

  1. Explain the components of GDP (CK1, CK2)
 Lecture
DiscussionReading: Chapter 24 pp: 497-499
3

Measuring National Income

  1. Demonstrate real and nominal GDP (CK1, CK2, CCIT1)
 Lecture
Calculation and PracticeReading: Chapter 24 pp: 500-506
4

 Measuring Cost of living

  1. Measure the Consumer Price Index (CK1, CK2, CCIT1)
  2. Illustrate the correcting economic variable for effects of inflation (CK3)
 Lecture
Quiz 1Reading: Chapter 25 pp: 511-520
5

 Production and Growth

  1. Illustrate the productivity (CK1, CK2, CIP1)
 Lecture
DiscussReading: Chapter 26 pp: 529-536
6

Production and Growth

  1. Demonstrate Economic growth and public policy (CK3, CC3)
 Lecture
Discussion
Quiz 2Reading: Chapter 26 pp: 537-543
7

 Saving, Investment, and Financial System

  1. Describe financial institutions (CK1, CK2)
  2. Discuss Saving and Investment in the national income accounts (CK1, CK2)
 Lecture
DiscussionReading: Chapter 27 pp: 553-559
8

Saving, Investment, and Financial System

  1. Discuss Saving and Investment in the national income accounts (CC2, CCIT1)
  2. The market of loanable funds (CC2)
 Lecture
PracticeReading: Chapter 27 pp: 559-565
9

Basic Tools of Finance

  1. Demonstrate the time value of money (CK1, CK2, CCIT1)
  2. Managing risk (CK1, CK2)
 Lecture
Discussion
Demonstration of equation and function
PracticeReading: Chapter 28 pp: 575-581
10

Basic Tools of Finance

  1. Discuss the Asset Valuation (CK1, CK2)
 Lecture
Discussion
Quiz 3Reading: Chapter 28 pp: 582-587
11

Monetary System

  1. Explain the measuring of Money (CK1, CK2)
  2. Describe the Federal Reserve System (CK1, CK2)
 Lecture
Discussion
PracticeReading: Chapter 30 pp: 615-621
12

Monetary System

  1. Explain Banks and the Money Supply (CK1, CK2, CCIT1)
  2. Illustrate Tools of Money supply (CK1, CK1 and CC1, CC2)
 Lecture
PracticeReading: Chapter 30 pp: 622-625
13

Monetary System

  1. Explain Banks and the Money Supply (CK1, CK2)
  2. Illustrate Tools of Money supply (CK1, CK1 and CC1, CC2)
 Lecture
Quiz 4Reading: Chapter 30 pp: 627-632
14

 

Money Growth and Inflation

  1. Demonstrate the effect Monetary Injection (CK1, CK2)
  2. Discuss the inflation tax and fisher effects (CK1, CK2)
 Lecture
DiscussionReading: Chapter 31 pp: 639-650
15

Money Growth and Inflation

  1. Discuss the inflation tax and fisher effects (CK1, CK2, CIP1)
 Lecture
DiscussionReading: Chapter 31 pp: 650-651
16

Money Growth and Inflation

  1. Discuss the cost of inflation (CK1, CK2, CIP1)
 Lecture
Discussion
Quiz 5Reading: Chapter 31 pp: 652-658
17

 Open-Economy Macroeconomics

  1. Demonstrate the international flows of goods and capital (CC1, CC2)
 Lecture
PracticeReading: Chapter 32 pp: 665-675
18

 Open-Economy Macroeconomics

  1. Demonstrate the price of international transaction (CK1, CK2)
 Lecture
PracticeReading: Chapter 32 pp: 675-677
19

Open-Economy Macroeconomics

  1. Explain Theory of exchange rate Determination (CK1, CK2, CIP1)
 Lecture
DiscussionReading: Chapter 32 pp: 679-683
20

Macroeconomic Theory of the Open Economy

  1. Discuss supply and demand for loanable funds (CK1, CK2)
  2. Illustrate supply and demand for Foreign currency exchange(CK1, CK2)
 Lecture
PracticeReading: Chapter 33 pp: 687-692
21

Macroeconomic Theory of the Open Economy

  1. Equilibrium in the open economy (CK1, CK2)
 Lecture
DiscussionReading: Chapter 33 pp: 693-695
22

   Macroeconomic Theory of the Open Economy

  1. Illustrate How policy affect open economy(CC1, CC2, CIP1)
 Lecture
DiscussionReading: Chapter 33 pp: 696-699
23

Aggregate Demand and Aggregate Supply

  1. Demonstrate the three key facts about economic fluctuation (CK1, CK2)
  2. Explaining short-run economic fluctuation (CK3)
 Lecture
Quiz 7Reading: Chapter 34 pp: 208-216
24

Aggregate Demand and Aggregate Supply

  1. Demonstrate the aggregate demand (CK1, CK2)
  2. Demonstrate the aggregate supply (CK1, CK2)
 Lecture
DiscussionReading: Chapter 34 pp: 209-728
25

Aggregate Demand and Aggregate Supply

  1. Discuss two causes of economic fluctuation (CK1, CK2, CIP1)
 Lecture.
Discussion
Quiz 8Reading: Chapter 34 pp: 729-736
26

Aggregate Demand and Aggregate Supply

  1. Discuss Oil and the Economy (CK1, CK2, CIP1)
  2. Discuss on Covid Recession of 2020 (CK1, CK2, CIP1)
 Lecture
DiscussionReading: Chapter 35 pp: 738-740
27

Influence of Monetary and Fiscal Policy on Aggregate Demand

  1. Illustrate how monetary policy influences aggregate demand (CC1, CC2, CC3, CIP1)
 Lecture
Discussion
Quiz 9Reading: Chapter 35 pp: 747-756
28

Influence of Monetary and Fiscal Policy on Aggregate Demand

  1. Illustrate how fiscal policy influences aggregate demand (CC1, CC2, CC3, CIP1)
 Lecture
DiscussionReading: Chapter 35 pp: 757-763
29

Influence of Monetary and Fiscal Policy on Aggregate Demand

  1. using policy stabilize economy (CC1, CC2, CC3, CIP1)
 Lecture
DiscussionReading: Chapter 35 pp: 763-767
30

Debates over Macroeconomic Policy

  1. How should policy makers try to stabilize economy (CC1, CC2, CC3, CIP1)
  2. How should government fights recession with spending hikes or tax cuts (CC1, CC2, CC3, CIP1)
  3. Should monetary policy be made by rule or discretion?
  4. Should the central bank aim for an inflation rate near zero?
  5. Should the government balance its budget?
  6. Should tax laws be reformed to encourage Saving?

Discussion

Reading: Chapter 37 pp: 797-814
Total Hours: 45

 

9. TEXTBOOKS AND REFERENCES

Textbook

  1. Mankiw N. Gregory, Principles of Economics, 10th edition, Cengage.

References

  1. Paul Krugman, and Robin Well, Economics, 5th edition, MacMillan Learning, 2018.
  2. Selected articles from The FreshNews and Kampuchea Thmey newspapers.

Education Resources