Lahore University of Management Sciences MECO 121 - Principles of Macroeconomics Spring 2022

Lahore University of Management Sciences
MECO 121 – Principles of Macroeconomics

Spring 2022
Instructors Abid Raza Khan
Room No.
Office Hours TBA
Email [email protected]
Telephone
Secretary/TA Nabeela Shahzadi
Email [email protected]
TA Office Hours
Course URL (if any) LMS
Course Teaching Methodology
 Teaching Methodology: In-person classes along with reading material shared online
 Lecture details: Live interactive sessions
COURSE BASICS
Credit Hours 3
Lecture(s) 2 Duration 75 minutes
Recitation/Lab (per week) On need basis Duration On need basis
Tutorial (per week) On need basis Duration On need basis
COURSE DISTRIBUTION
Core Core
Elective
Open for Student Category SDSB, all in phase II
Close for Student Category
COURSE DESCRIPTION
This course provides an introduction to macroeconomic theory and policy , with special focus on Pakistan. It introduces
some of the fundamental issues related to macro-economy, using a framework in which the interaction of labour,
money, and goods and services markets can be developed, allowing students to understand the process by which the levels of
economic activity, employment and rates of interest are jointly determined. The framework is then used to examine how the
policies set by the central bank and the government affect the economy.
COURSE PREREQUISITE (S)

N/A
COURSE OBJECTIVES
- Introduce the student to the formal study of economics and show the student how an understanding of economics can
help them in day-to-day living and in understanding the world around them.
- Provide a detailed study of the major topics in macroeconomics.
- Provide the student with the knowledge of data sources of key economic data such as the national income and product
accounts, which include GDP, CPI, etc.
- Provide the student with the knowledge and understanding to use key economic statistics, such as the unemployment
rate, the inflation rate, etc. appropriately. The student will recognize the strengths and limitations of these key economic
variables.
- Improve the student’s understanding of current economic trends and events.
- Promote a lasting student interest in economics and the economy.
LEARNING OUTCOMES
Upon successful completion of the course, students should be able to:
- Develop an understanding of basic macroeconomic concepts and their application to real world situations.
- Identify core macroeconomic issues, especially related to Pakistan.
- Comprehend the interaction between real economy and financial economy, and its bearing on economic activity.
- Evaluate critically and apply economic models to solve real world problems.
- Interpret charts, graphs, and tables and use the information to make informed judgments
- Understand the broader social consequences of economic decisions making
UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES
General Learning Goals & Objectives
 Goal 1 –Effective Written and Oral Communication

Objective: Students will demonstrate effective writing and oral communication skills
 Goal 2 –Ethical Understanding and Reasoning
Objective: Students will demonstrate that they are able to identify and address ethical issues in an organizational
context.
 Goal 3 – Analytical Thinking and Problem-Solving Skills
Objective: Students will demonstrate that they are able to identify key problems and generate viable solutions.
 Goal 4 – Application of Information Technology
Objective: Students will demonstrate that they are able to use current technologies in business and management
context.
 Goal 5 – Teamwork in Diverse and Multicultural Environments
Objective: Students will demonstrate that they are able to work effectively in diverse environments.
 Goal 6 – Understanding Organizational Ecosystems
Objective: Students will demonstrate that they understand Economic, Political, Regulatory, Legal, Technological, and
Social environment of organizations.
Major Specific Learning Goals & Objectives
 Goal 7 (a) – Discipline Specific Knowledge and Understanding

Objective: Students will demonstrate knowledge of key business disciplines and how they interact including application
to real world situations (including subject knowledge).
 Goal 7 (b) – Understanding the “science” behind the decision-making process (for MGS Majors)
Objective: Students will demonstrate ability to analyze a business problem, design and apply appropriate decision-
support tools, interpret results and make meaningful recommendations to support the decision-maker
Indicate below how the course learning objectives specifically relate to any program learning goals and objectives.
MAPPING OF LEARNING OBJECTIVES
PROGRAM LEARNING GOALS AND COURSE LEARNING OBJECTIVES COURSE ASSESSMENT ITEM
OBJECTIVES
Goal 1 - Effective Written and Oral Operationalized through class participation and CP
Communication group project
Goal 2 - Ethical Understanding and

Reasoning
Goal 3 - Analytical Thinking and Application of macroeconomic principles in real Quizzes and exams
Problem-Solving Skills world scenario
Goal 4 - Application of Information Operationalized through preparation of group Assignments

Technology project reports and presentations
Goal 5 - Teamwork in Diverse and Group presentation

Multicultural Environments
Goal 6 - Understanding
Organizational Ecosystems
Goal 7 (a) - Discipline Specific Major Goal: Comprehensive coverage of topics in CP, quizzes and exams
Knowledge and Understanding microeconomics
(Subject Knowledge)
Goal 7 (b) - Understanding the

“science” behind the decision-
making process
GRADING BREAKUP AND POLICY
Assignment(s): 10%
Quiz(s): 20%
Class Participation: 10%
Attendance: 10%
Midterm Examination: 25%
Final Examination: 25%
EXAMINATION DETAIL
Yes/No: Yes
Quizzes Combine/Separate: Separate
Duration: 10 mins
Preferred Date: every week
Yes/No: Yes
Midterm
Combine/Separate: Combine
Exam
Duration: 2 hours
Preferred Date: mid-semester
Yes/No: Yes
Final Exam Combine Separate: Combine
Duration: 2 hours
Preferred Date: end-semester
COURSE OVERVIEW
Week/Lecture/ Topics Recommended Readings Objectives/ Application
Module
1-4 Introduction Colander Ch 6
Economic growth, business cycles, and
structural stagnation
5 Measuring domestic output and Colander Ch 7
national income
6 Measuring domestic output and Colander Ch 7
inflation (continued )
7 Comparative advantage, exchange rates, Colander Ch 8

and globalization
8-9 The short-run Keynesian policy model: Colander Ch 9
demand-side policies
10-11 The classical long-run policy model: Colander Ch 10
growth and supply-side policies
12-13 The financial sector and the economy Colander Ch 12
14 Monetary policy Colander Ch 13
15 Financial crises, panics, and Colander Ch 14
unconventional monetary policy
16-17 Deficits and debt Colander Ch 15
18-19 Fiscal policy Colander Ch 16
20 Jobs and unemployment Colander Ch 17
21-22 Inflation, deflation, and macro policy Colander Ch 18
23 International financial policy Colander Ch 20
24-25 Macro policy in developing countries Colander Ch 22
26-28 Project presentations
TEXTBOOK (S )/SUPPLEMENTARY READINGS
Colander, Principles of Macroeconomics
Gregory Mankiw, Macroeconomics
Blanchard, Olivier, Macroeconomics

Lahore University of Management Sciences MECO 121 - Principles of Macroeconomics Spring 2022

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Lahore University of Management Sciences MECO 121 - Principles of Macroeconomics Spring 2022

Uploaded by

Lahore University of Management Sciences

MECO 121 – Principles of Macroeconomics

Course Teaching Methodology

COURSE PREREQUISITE (S)

UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES

General Learning Goals & Objectives

 Goal 1 –Effective Written and Oral Communication

Major Specific Learning Goals & Objectives

 Goal 7 (a) – Discipline Specific Knowledge and Understanding

MAPPING OF LEARNING OBJECTIVES

Goal 2 - Ethical Understanding and

Goal 4 - Application of Information Operationalized through preparation of group Assignments

Goal 5 - Teamwork in Diverse and Group presentation

Goal 7 (b) - Understanding the

GRADING BREAKUP AND POLICY

7 Comparative advantage, exchange rates, Colander Ch 8

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