Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
(6) Macroeconomics - BECO2023
1.
2.
Name of Course
Course Code
3.
4.
Name(s) of academic staff
Rationale for the inclusion of the
course/module in the programme
5.
6.
Semester and Year offered
Total Student
Face to Face
Learning Time
(SLT)
L = Lecture
L
T
P
T = Tutorial
P = Practical
28 14
O= Others
7.
Credit Value
8.
Prerequisite (if any)
Macroeconomics
BECO2023
Macro Economics is the branch of economics which is
concerned with the large aggregates. When we are
analyzing the problems of the economy as a whole, it is
called Macro Economics. Macro economics is
concerned with aggregates and averages of the entire
economy, such as national income, consumption
employment,
aggregate
output,
savings,
and
investments, general level of prices, aggregate
demand, and aggregate supply etc
The theoretical and practical importance of macro
economics is briefly discussed as:
 It is helpful in understanding the functioning of
macro economics system.
 It explains the factors which determine the level
of national income and employment in as
economic.
 It explains the circular flow of national income in
an economy.
 It explains the problem of unemployment which
is a main problem of developing countries.
 It explains the various aspects of international
trade such as terms of trade balance of
payments, foreign exchange etc.
 It studies the causes of fluctuations in the
business cycle and to formulate the policies to
control inflation and deflation.
1/2
Total Guided and Independent Learning
O
Guided =
42
Independent = 84
Total =
126
3
Nil
Bachelor of Business Administration (Hons) - Specialization in Marketing
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Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
(6) Macroeconomics - BECO2023
9.
Objectives:
The purpose of the course is to develop the economic way of thinking and make the students
ready to use logic and methods of economic analysis in their further studies. Specifically the
course aims at:
 Giving students a solid grasp of macroeconomic analysis at the intermediate-level
using both graphical and algebraic techniques;
 Ensuring students can apply macroeconomic analysis to the study of contemporary
and historical economic problems;
 Broadening the students’ knowledge in the field of macroeconomics,
 Developing the students’ abilities to write essays and understand and critically
discuss economic literature.
10.
Learning outcomes:
Upon completion of this subject, students should be able to:
 Know and understand the concepts or principles of macroeconomics from
conventional and Islamic perspectives
 Make comparisons between conventional and Islamic perspectives in
macroeconomics issues
 Apply the concepts or principles to relevant problem analysis and current economic
development
11.
Transferable Skills:
Macroeconomists try to forecast economic conditions to help consumers, firms and
governments make better decisions.
 Consumers want to know how easy it will be to find work, how much it will cost to buy
goods and services in the market, or how much it may cost to borrow money.
 Businesses use macroeconomic analysis to determine whether expanding production
will be welcomed by the market. Will consumers have enough money to buy the
products, or will the products sit on shelves and collect dust?
 Governments turn to the macro-economy when budgeting spending, creating taxes,
deciding on interest rates, and making policy decisions.
Bachelor of Business Administration (Hons) - Specialization in Marketing
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Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
(6) Macroeconomics - BECO2023
12.
13.
Teaching-learning and assessment strategy
A variety of teaching and learning strategies are used throughout the course, including:
 Lecture sessions
 Tutorial sessions
 Case Studies
 Student-Lecturer discussion
 Collaborative and co-operative learning
 Workshops and Training Seminars
 Independent study
Assessment strategies include the following:
 Ongoing quizzes
 Midterm tests
 Performance Assessment (Participation, project, Assigned exercises)
 Case Presentations
Synopsis:
Understanding macro and micro economics and as well as investigates the problems of
business cycles, unemployment, inflation and recession. It examines the role of government
policy: physical, monetary and fiscal policies in containing inflation, reducing unemployment
and spurring economic growth and others
14.
Mode of Delivery: Face to Face
 Lecture sessions
 Tutorial sessions
15.
Assessment Methods and Types:
The assessment for this course will be based on the following:
Coursework
50%
Quizzes
Assignments
Project
Mid-Semester Exam
Final Examination
10%
10%
10%
20%
50%.
Total
100%
Bachelor of Business Administration (Hons) - Specialization in Marketing
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Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
(6) Macroeconomics - BECO2023
16.
17.
Mapping of the course/module to the Programme Aims
The individual course is mapped to the programme aims using a scale of one to five where (one
being the least relevant/related and five being the most relevant/ related).
A1
A2
A3
A4
A5
A6
4
3
4
3
4
3
Mapping of the course/module to the Programme Learning Outcomes
The learning outcomes of this course are mapped to the eight MQF domains using a scale of one
to five where (one being the least relevant/related and five being the most relevant/ related).
LO1 LO LO3 LO4
LO5
LO
LO7
LO8 LO9
LO10 LO11 LO12
2
6
3
4
4
2
2
3
2
4
2
2
4
2
18.
Content outline of the course/module and the SLT per topic
WEEK 2, 3
WEEK 1
Details
Introduction to Macroeconomics
 An overview of macroeconomics in Malaysia,
historical experience of the business cycle in Malaysia
 The Great Depression, circular flow
 Role of government in the economy
 Components of macroeconomics
 Connections to microeconomics
Growth and Development
 Three classes of productive resources that
economists have traditionally used.
 Distinguish between human and physical capital.
 Division of labour and specialization suggests that free
trade and globalization are beneficial.
 Role of financial markets and institutions play in
growth.
 Concept of a poverty trap.
 Government policies that will hinder economic growth.
 Cultural values those are toxic for growth.
Total
WEEK
Indep.
SLT
L
T
2
1
6
9
4
2
12
18
Bachelor of Business Administration (Hons) - Specialization in Marketing
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Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
WEEK 4
National Income Accounting
 Concept of income
 Produce and expenditure
 Domestic and national income
 Compared problems of estimation
 Nominal versus real GDP
 GDP price index
 Underground economy
2
1
6
9
WEEK 5
Aggregate Expenditure and Equilibrium
 Analyse the aggregate output and income
 Planed investment
 Equilibrium aggregate output and income
 Adjustment to equilibrium
 Multiplier and paradox of thrift.
2
1
6
9
WEEK 6, 7
Government and Fiscal Policy
 Learn about government participation in the economy
 Government purchase
 Net taxes and disposable Income
 Equilibrium output
 Government spending multiplier
 Tax multiplier
 Balanced budget multiplier
4
2
12
18
WEEK 8
Money Supply and Bank Negara
 An overview of money
 Measuring the supply of money in Malaysia
 How banks create money
 How Bank Negara controls the supply of money
 Money, interest and national income
 Analysis of Equilibrium.
2
1
6
9
WEEK 9, 10
(6) Macroeconomics - BECO2023
Aggregate Demand, Supply and Inflation
 Deriving the Aggregate Demand curve
 Aggregate Supply
 Short and long-run Aggregate Supply curves
 Causes of inflation
 Cost-push and demand-pull inflation
 Money and inflation
4
2
12
18
Bachelor of Business Administration (Hons) - Specialization in Marketing
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Al-Madinah International University (MEDIU)
MQA-01 Document
Area 2: Curriculum Design and Delivery-Foundation Subjects
WEEK 11, 12
Labour Market, Unemployment and Inflation
 The Classical View
 The Keynesian View
 Relationship between unemployment and Inflation 2
Rates
 Phillips Curve
 Expectations and the Phillips Curve
2
12
18
WEEK 13
Economic Growth and Productivity
 Growth process in Malaysia
 Sources of economic growth
 Growth and productivity
 Pros and cons of growth
2
1
6
9
WEEK 14
(6) Macroeconomics - BECO2023
Economics Policy-Making
 Learn about macroeconomics
Economy
 The balance of payments
2
1
6
9
2
8
1
4
84
12
6
and
the
“open”
Total
19.
Main references supporting the course:
McEachern A.W. (2010). Economics: A Contemporary Introduction, Thomson-SouthWestern, (9th Edition)
Additional references supporting the course:
1. Abel, Bernanke & Croushore. (2010). Macroeconomics. Pearson, (7th Edition)
2. William A. McEachern. (2010). Macroeconomics. Cengage Learning, (9th Edition)
20.
Other additional information
All related subject materials will be available to the students during the period of the course
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