Economics 123

Module code EKN 123
Qualification Undergraduate
Faculty Faculty of Economic and Management Sciences
Module content

National income and principles of macroeconomics
The mechanics of national income accounts, the Keynesian macroeconomic model, the money market, demand for money and money supply, money and credit creation and the role of the monetary authorities. The IS-LM model of macroeconomic equilibrium and monetary and fiscal policy applications. The aggregate demand and supply models with the debate between the classical school, the monetarists and the Keynesian school. The problems of inflation and unemployment. Macroeconomic issues, namely macroeconomic policy, international trade, the balance of payments and economic growth.

Module credits 15.00
NQF Level 05
Service modules Faculty of Natural and Agricultural Sciences
Prerequisites At least 6 (70-79%) in Mathematics or 60% in both Statistics 113 and 123; EKN 113 GS
Contact time 3 lectures per week
Language of tuition Module is presented in English
Department Economics
Period of presentation Semester 2

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