1. Introduction to Macroeconomics
Difference between Microeconomics and Macroeconomics
Key Macroeconomic Objectives (Economic growth, low unemployment, price stability, balance of payments stability, and income equality)
2. Economic Growth & Development
Definition of GDP, GNP, and Per Capita Income
Causes of Economic Growth (Investment, productivity, innovation)
Consequences of Growth (Prosperity vs. environmental concerns)
Development Indicators (HDI, literacy rate, life expectancy)
3. Inflation & Deflation
Definition & Types of Inflation (Cost-push, demand-pull)
Causes & Effects of Inflation (Purchasing power, interest rates, savings)
Controlling Inflation (Monetary & fiscal policies)
Deflation & its Impacts
4. Employment & Unemployment
Types of Unemployment (Cyclical, structural, frictional, seasonal)
Causes & Effects of Unemployment
Government Policies to Reduce Unemployment
5. Money, Banking, and Interest Rates
Functions of Money
Role of Central Banks (Monetary policy, interest rate control, lender of last resort)
Effect of Interest Rates on Borrowing & Spending