COURSE OUTLINE 1. Introduction: What is macroeconomics? Macroeconomic is suES in an economy. 2. National Income Accounting: Concepts of GDP and National income; Measurement of national income and related aggregates; Nominal and real income, Limitations of the GDP concept. 3. Determination of GDP: Actual and potential GDP; Aggregate expenditure; Consumption function; Investment function; Equilibrium GDP; Concepts of MPS, APS, MPC, APC, Autonomous expenditure; Concept of multiplier. 4. National Income Determination in an Open Economy with Government Fiscal Policy: Impact of changes in government expenditure and taxes; Net exports function; Net exports and equilibrium national income. 5. Money in a Modern Economy: Concept of money in a modern economy; Monetary aggregates; Demand for money; Quantity theory of money; Liquidity preference and rate of interest; Money supply and credit creation; Monetary policy.