Introduction to mAcroeconomics (eco-216)

Department of International Business

& Marketing

NUST Business School

National University of Sciences & Technology

BBA2K22-A
Course Details
Course Title: Introduction to Macroeconomics Credit Hours:
03

Course Code: ECO 216 Pre-requisite:

Nil

Program: BBA2K22-A

Course Faculty
Module Leader: Dr. M. Fawad Khan

Office: Room 310 (Second Floor), NUST Business School, NUST H-12, Islamabad

Office hours: 1000 to 1100 hrs (Tuesday & Wednesday)

Office Tel: -

Email: fawad.khan@nbs.nust.edu.pk

Course Description

This is an introductory level course of macroeconomics which will provide an overview of

macroeconomic issues. In this course, students examine how the economy behaves at the
aggregate level and how national income, inflation and unemployment, along with key
indicators that effect the overall economy, are defined, measured and of significance for
determining well-being of an economy. Additionally, students will be equipped with tools
which would make them capable of understanding how economies function. At the end of this
course, students should understand: role of monetary and fiscal policies in an economy, the
multiplier effect, derivation of IS and LM curves, crowding out and crowding in, quantity
theories of demand for money, aggregate demand and aggregate supply, stabilization
techniques, business cycles, long-term growth, money, banking and monetary policy, inflation,
interest rates, stagflation, deficits and fiscal policy, exchange rates and balance of payments;
exchange rate policy; purchasing power parity.
Course Learning Outcomes

By the end of the module students will be able to:

1. Understand the key macroeconomics concepts and terms, such as national income,
national saving, consumption, investment, government spending, and net exports,
among others.
2. Identify macroeconomic issues related to money, foreign exchange, inflation,

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 unemployment, international trade, and economic growth.
3. Show the effect of policy changes on the economy using economic models and the
corresponding graphing tools.
4. Differentiate between the short-run and long-run impact of policies on the economy.

Program Goals & Learning Objectives

Goal 1: Students will acquire knowledge to analyze business problems
LO 1.1: Students will be able to understand problems in a business setting
LO 1.2: Students will be able to analyze problems using business knowledge

Goal 2: Students will work in team settings

LO 2.1: Students will be able to work towards achieving team goals
LO 2.2: Students will be able to demonstrate effective team behavior

Goal 3: Students will learn to communicate effectively

LO 3.1: Students will be able to communicate effectively in oral presentations
LO 3.2: Student will be able to create professional reports

Goal 4: Students will deal with the ethical dilemmas that arise in a business environment
LO 4.1: Students will be able to identify ethical concerns emanating from a business situation
LO 4.2: Students will be able to apply ethical guidelines to address business problems by
examining a set of alternatives

Mapping - CLOs with LOs

 
Learning LO 1.1 LO 1.2 LO 2.1 LO 2.2 LO 3.1 LO 3.2 LO 4.1 LO 4.2 Not Evaluation Item
Objective Mapped
CLO 1 ✓             Quiz/Exam
Quiz/Exam
CLO 2 ✓          

CLO 3 ✓           Quiz/Exam
CLO 4 ✓       Quiz/Exam
Legend: ✓ indicates mapped and assessed CLO, mapped but not assessed and x unmapped
CLO.

Required Course Material

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The core textbook for the course is Macroeconomics (9th Edition) by N. Gregory Mankiw.

Course Evaluation (Grade Breakup)

Grading will be done as per NBS criteria. The breakup of the grade points is as follows:

Final Exam   40%

Mid Semester Exam       25%

Assignments 20%
Quizzes 15%

Course Content (Weekly)

The weekly breakdown is given below

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 Session Outcomes
Week Lecture No. and Topic Preparation Material (Students should be able
to…)

LECTURE 1: What
macroeconomists study,
How economists think,
1 Theory as model building, Chapter 1 CLO 1
Using functions to express
relationships among prices:
flexible versus sticky

LECTURE 2: Measuring
the value of economic
activity: Gross Domestic
2 Chapter 2 CLO 1
Product, Measuring the CLO 2
cost of living: the
Consumer Price Index

LECTURE 3: Total
production and distribution
CLO 1
3 of goods and services. Chapter 3 CLO 2
Equilibrium in the goods CLO 3
market

LECTURE 4:
CLO 1
4 Consumption, saving, and Chapter 3
CLO 2
investment

LECTURE 5: Money,
CLO 1
5 quantity equation, Chapter 4
CLO 2
seigniorage

LECTURE 6: Interest
6 Chapter 4 CLO 1
rates and inflation CLO 2
LECTURE 7:
CLO 1
7 Hyperinflation, monetary Chapter 4
CLO 2
policy, and fiscal policy

LECTURE 8: Factors
CLO 1
8 affecting equilibrium Chapter 4 CLO 2
output CLO 3
9 MID-TERM EXAM WEEK

CLO 1
LECTURE 9: Small and
10 Chapter 5 CLO 2
large open economies
CLO 3
5
LECTURE 10: Solow
CLO 1
11 Model and capital Chapter 7 CLO 2
Detail of Assessments

Assignments (20%)
 Please submit all your assignments on time. Late submissions shall not be
accepted/marked.
 Details of the assignments will be shared in the class and uploaded on the LMS.

Quizzes (15%)
 There will be a total of 4 announced quizzes in the class.

Examination (65%)
The course will have two exams, i.e., a midterm (25%) and a final exam (40%), to measure the
student’s understanding of the subject, mid-term in the 9 th and final in the 18th week of the
course.

Course Policies

Attendance:

 In the event of a missed session, it is the student’s responsibility to consult LMS and
their classmates for missed content.
 Class attendance will be taken in the last 5 minutes of the class. If you are away on
official NUST duty, it is the student’s responsibility to inform the instructor on time
with an official note.
 It is the student’s responsibility to continuously monitor his/her attendance. Do not ask
the instructor to change/modify the attendance unless there has been an accidental
oversight. In such an event, the student should inform the instructor of the error (with
proof) before the month ends.

Discipline / Deadline Extension Policy:

Students are intimated in advance that there is no room for deadline extensions in this module
for the individual as well as for group activities/submissions. The sole reason for this is the
provision of similar grounds for each student. Therefore, do not ask for any such favours.
Prove yourself as an educated, well-groomed individual during your stay.

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 Academic Dishonesty:

You are responsible for knowing and enacting academic conduct that is in line with the
University’s statement entitled “Academic Dishonesty” available at:

https://nust.edu.pk/wp-content/uploads/2020/03/Code_of_Ethics.pdf

The statement highlights examples of unacceptable behaviour which include, but are not
limited to, the following:

 Cheating: Intentionally using or attempting to use unauthorized materials, information,

or study aids in any academic exercise; copying from another student’s examination;
submitting work prepared in advance for an in-class examination; taking an
examination for another person or conspiring to do so.
 Plagiarism: Intentionally or knowingly representing the words or ideas of another as
one’s own in any academic exercise; failure to attribute direct quotation, paraphrase, or
borrowed facts or information
Missed Classes:
Students are encouraged not to miss classes, however, in the case of such eventuality they are
required to follow up with peers and come up well prepared in the classes to come. Make sure it
is the sole responsibility of the student to compensate for the losses incurred and No excuses will
be dealt with on this account.

Dos and Don’ts:

DO DO NOT

Come to class on time and having Submit assignments, and quizzes late. Such

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 completed the reading material. assignments and quizzes will not be accepted.

Take notes during the lectures. Cause disturbance in class.

Research topics and news items for

constructive (and respectful) in-class Eat/Drink food in class.
debates.

Let the lecturer know in advance if you need

Ask the lecturer to reschedule deadlines.
to miss a class.

Constantly monitor the course outline and

Ask the lecturer to change attendance details.
have it with you at all times.

Forget to write some form of identification on

Switch off/Put your phones on silent during
each document that is due for submission of
class.
any kind.

Make up your own format of

Follow submission instructions for any
labelling/submission of assessed material – you
assessment content
will lose marks for this

Sample Front Page:

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 NUST Business School
ECO 216 – Introduction to Macroeconomics
Assignment

Submitted to;
xyz
Submitted by;
xyz
BBA2K22-A

Date: xx Month, 2023.