COURSE SYLLABUS

Course Title: Macroeconomics

Course Code: ECO 205 Credits: 4(4|0)
Prerequisites: ECO 204 Co-Requisites: None
School/Department: Becamex Business School

Course Description
This course provides an introduction to macroeconomic analysis for undergraduates.
The course focuses on four main parts: the data of macroeconomics, the real economy in the
long run, money and prices in the long run, and short-run economic fluctuations. The course
assumes a basic knowledge of microeconomics, such as the theory of supply and demand,
producer theory, the market efficiency, and market failure.

Course Objectives
Students completing the course should be able to:
- Understand the core macroeconomic issues such as determinants of national output,
economic growth, investment, consumption, unemployment, inflation, money growth,
interest rates, financial and monetary systems, aggregate demand and aggregate
supply.
- Analyze the role of governments in policymaking, accompanying the effectiveness of
monetary and fiscal policies under different theoretical approaches to macro policy.
- Analyze the macroeconomic problems facing modern society, applying theoretical
knowledge to real-world economic issues.

Course Intended Learning Outcomes

At the end of this course, students will be able to:
Knowledge
CLO 1 Define major macroeconomic variables and explain their relationships
through basic macroeconomic models.
CLO 2 Systematically understand the determinants of short-run and long-run
economic growth.
CLO 3 Analyze the simple structure of money markets and financial
institutions; the monetary system and its operation; the monetary
growth and inflation within the real economy.
CLO 4 Analyze the forces that affect the aggregate level of economic activity
and the business cycle using AD-AS analysis.
 2

CLO 5 Apply monetary and fiscal policies to achieve policy goals; analyze the
impact of expansionary/contractionary fiscal and monetary policies on
the national income, employment and the price level.
Skills
CLO 6 Apply macroeconomic tools and concepts that are learned in class to
address real-world economic issues.
Autonomy and Responsibility
CLO 7 Perform actively and collaboratively in learning activities to approach
new knowledge.
CLO 8 Work independently as well as part of a team in a range of contexts.

Course Content
Topic 1: Introduction and Measuring National Income
1. From micro to macro analysis
2. Two models
3. The economy’s income and expenditure
4. Gross domestic product (GDP)
5. The components of GDP
6. Real versus nominal GDP
7. Is GDP a good measure?

Topic 2: Measuring the Cost of Living

1. The consumer price index
2. Correcting economic variables for the effects of inflation

Topic 3: Production and Growth

1. Economic growth around the world
2. Productivity: its role and determinants
3. Economic growth and public policy

Topic 4: Saving, Investment and the Financial System

1. Financial institutions in the U.S. economy
2. Saving and investment in the national income accounts
3. The market for loanable funds

Topic 5: Unemployment
1. Identifying unemployment
2. Job search
3. Minimum-wage laws
4. Unions and collective bargaining
 3

5. The theory of efficiency wages

Topic 6: The Monetary System

1. The meaning of money
2. The Federal Reserve System
3. Banks and the money supply
4. The Fed’s tools of monetary control

Topic 7: Money Growth and Inflation

1. The classical theory of inflation
2. The costs of inflation

Topic 8: Aggregate Demand and Aggregate Supply

1. Three key facts about economic fluctuations
2. Explaining short-run economic fluctuations
3. The aggregate-demand curve
4. The aggregate-supply curve
5. Two causes of economic fluctuations

Topic 9: Monetary Policy and Fiscal Policy

1. How monetary policy influences aggregate demand
2. How fiscal policy influences aggregate demand
3. Using policy to stabilize the economy

Course Materials1 & Other Requirements

Textbook:
Mankiw, N.G. (2018). Principles of Macroeconomics (8th ed). Cengage Learning. Link
Required Readings:
McConnell, C.R., Brue, S.L. & Flynn, S.M. (2018). Macroeconomics (21st). McGraw-Hill.
Link
Blanchard, O.J. (2021). Macroeconomics (8th ed). Pearson Prentice Hall. Link
Huynh, C. M., & Nguyen, T. L. (2020). Fiscal policy and shadow economy in Asian
developing countries: does corruption matter? Empirical Economics 59(4), 1745-1761.
Link
Huynh, C.M. (2020). Shadow economy and air pollution in developing Asia: what is the
role of fiscal policy? Environmental Economics and Policy Studies 22(3), 357– 381. Link
Hoang et al., (2020). Foreign Direct Investment in the South Central Region: Factors and
Spatial Distribution. Hanoi: Social Science Publishing House. Link

1 Available at the EIU Library

 4

Huynh, C.M. (2023). The Shadow Economy and Contemporary Issues in Asia. Hanoi:
Labor Publishing House. Link
Additional Readings: None
Other requirements (software, equipment, online resources, etc.): laptop, desktop, or mobile
device is required for Moodle access, online quiz…

Course Assessment 2
Assessment Assessment Weight Aligned
Description
Type Method (%) CLO
In-class/moodle activities
[1] Participation 33.3
(quiz/discussion/Q&A)
Formative
[2] Presentation Weekly group presentation 30 33.3 1-8
[3] Report Group essay writing 33.4
The midterm exam includes
20 multiple choice questions
Midterm [4] Exam and 3-4 written questions 30 1-3, 6-8

The final exam includes 20

[5] Exam multiple choice questions
Final and 3-5 written questions 40 3-5, 6-8

Course Schedule 3

Week 1, Topic 1: Introduction and Measuring National Income

Lesson 1
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 1, 10 (Mankiw, 2018, pp. 19-45, pp.189-210)
Discussion
Aligned CLO:
1, 6-8 • Distinguish between microeconomics and macroeconomics.
• Show a video clip or an article so that students can recognize which
terminologies are micro/macro variables.
• 2 macro models.
• Three ways of measuring GDP.
• 4 components of GDP.
Practice

2 The sum of x, y, and z must be 100%;

Σxi = Σyi = Σzi =100%
3 Students need two hours of self-study for each hour of classroom instruction.
 5

• Give students various cases of transaction and ask them in each

case to determine: a) how much the US’s GDP changes; and b)
which of its components is affected.
Assessment: [1, 2, 3, 4]

Week 1, Topic 1: Introduction and Measuring National Income

Lesson 2
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter (Huynh, 2023, pp. 19-46).
Discussion
Aligned CLO:
1, 6-8 • Compare and contrast GDP and GNP.
• Real versus nominal GDP.
• Compute GDP deflator.
• Is GDP a good measure?
Practice
• Build a 2-good economy; compute nominal GDP, real GDP (base
year), and GDP deflator.
• Is Nominal GDP or Real GDP a better measure of economic well-
being? Why?
• Ask students to find out the limitations of GDP, basing on definition
& components of GDP.
• Some things that contribute to well-being are not included in GDP.
Assessment: [1, 2, 3, 4]

Week 2, Topic 2: Measuring the Cost of Living

Lesson 3
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 11 (Mankiw, 2018, pp. 211-228)
Discussion
Aligned CLO: • 5 steps to calculate the Consumer Price Index (CPI).
1, 6-8 • Compare CPI components in Vietnam versus in the US.
• 3 problems of CPI as a measure of the cost of living.
Practice
• Calculate CPI and inflation rate.
Assessment: [1, 2, 3, 4]

Week 2, Topic 2: Measuring the Cost of Living

Lesson 4
Teaching methods: Lecture
Reading
 6

2 hrs theory
• Chapter 11 (Mankiw, 2018, pp. 211-228).
Discussion
Aligned CLO: • Compare and contrast CPI and GDP deflator.
1, 6-8 • How to convert money to present value.
Practice
• Give students some cases, and ask them in each case whether the
CPI or GDP deflator is affected? Why?
• Give examples to show the relationship among nominal interest rate,
real interest rate and inflation rate.
• Do an exercise to correct the wage in 1914 for the effect of inflation.
Assessment: [1, 2, 3, 4]

Week 3, Topic 3: Production and Growth

Lesson 5
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 12 (Mankiw, 2018, pp. 231-256).
• Chapter 10 (Blanchard, 2021, pp. 219-236).
Aligned CLO: Discussion
1, 2, 6-8
• Growth facts across countries; convergence vs. divergence.
• Productivity and its determinants: physical capital, human capital,
natural resources, technology.
• Diminishing returns & catch-up effect.
Practice
• Give students the 2 tables showing the variety of growth
experiences, and GDP per capita - Vietnam compared to the
continent. Ask them the following questions: What is the most
prominent feature in each table? Why are some countries richer than
others? Why do some countries grow quickly while others seem
stuck in a poverty trap? What policies may help raise growth rates
and long-run living standards?
• Plot Vietnam’s GDP per worker and schooling years; hypothesize
links.
Assessment: [1, 2, 3, 4]

Week 3, Topic 3: Production and Growth

Lesson 6
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 8 (McConnell et al., 2018, pp. 158-178).
• Chapter 1 (Hoang at al., p.25-54).
Discussion
 7

Aligned CLO: • Policies (saving/investment, education/health, property rights &

1, 2, 6-8 governance, openness, R&D) and tradeoffs.
Practice
• Describe 7 ways a government policymaker can try to raise the
growth in living standards in a society. Are there any drawbacks to
these policies?
• Patents might seem like a deterrent to growth because in effect they
restrict the use of new technology. However, many economists
believe that patents generate growth. Explain why.
Assessment: [1, 2, 3, 4]

Week 4, Topic 4: Saving, Investment and the Financial System

Lesson 7
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 13 (Mankiw, 2018, pp. 257-278)
Discussion
Aligned CLO: • Financial markets vs. financial intermediaries; risk sharing, liquidity.
1, 3, 6-8 • Bonds vs. stocks; basic risk–return trade-off.
Practice
• Match saver–borrower scenarios to instruments (bond, stock, bank
loan, microfinance).
• Read simplified balance sheets; identify maturity mismatch and
basic risks.
Assessment: [1, 2, 3, 4]

Week 4, Topic 4: Saving, Investment and the Financial System

Lesson 8
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 11 (Blanchard, 2021, pp. 237-260).
Discussion
Aligned CLO: • National saving (private + public), investment, and the identity S=I.
1, 3, 6-8 • Loanable funds model: interest rate determination; shocks (taxes,
deficits, investment incentives).
Practice
• Compute national saving from given macro data; classify as
surplus/deficit.
• Shock lab: predict effects of a government deficit or investment tax
credit on r, S, I.
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• If more Vietnamese adopted a “live for today” approach to life (to

spend more than to save), how would this affect saving, investment,
and the interest rate?
Assessment: [1, 2, 3, 4]

Week 5, Topic 5: Unemployment

Lesson 9
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 15 (Mankiw, 2018, pp. 293-315)
Discussion
Aligned CLO: • Differences in the unemployment rate between men & women,
1, 6-8
urban & rural areas.
• Labor force concepts: employed, unemployed, not in labor force; LF
participation rate.
• Natural vs. cyclical unemployment; frictional vs. structural.
• Job search & matching.
Practice
• Classify 12 individuals into labor-force categories; compute U-rate &
LFPR.
• Give examples to illustrate the problems of u-rate.
• Suggest some policies to deal with such cases of frictional
unemployment.
Assessment: [1, 2, 3, 5]

Week 5, Topic 5: Unemployment

Lesson 10
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 15 (Mankiw, 2018, pp. 293-315)
Discussion
Aligned CLO: • Minimum-wage effects across skill groups; evidence.
1, 6-8 • Unions and collective bargaining.
• Efficiency-wage theories.
Practice
• Ask students to draw the supply curve and the demand curve for a
labor market in which the wage is fixed above the equilibrium level.
Show the quantity of labor supplied, the quantity demanded, and the
amount of unemployment.
• Discuss the strength & weakness of unions, the nexus between
unions & structural unemployment.
• Case study analysis: Divide students into small groups and assign
them a case study of a country that implemented significant
 9

unemployment interventions during COVID-19. Each group should

analyze the following:
+The specific interventions implemented.
+The effectiveness of these interventions in reducing
unemployment.
+Lessons learned and recommendations for future policies.
• How would an increase in the world price of oil affect the amount of
frictional unemployment? Is this unemployment undesirable? What
public policies might affect the amount of unemployment caused by
this price change?
Assessment: [1, 2, 3, 5]

Week 6, Topic 6: The Monetary System

Lesson 11
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 16 (Mankiw, 2018, pp. 319-341)
Discussion
Aligned CLO: • Three functions of money, the two kinds of money.
3, 6-8 • M1, M2.
• Fractional-reserve banking, reserve ratio, money multiplier.
• The three primary functions of the Fed.
Practice
• Active learning 1: Exercise about 3 functions of money.
• Active learning 2: Exercise about banks and money supply.
Assessment: [1, 2, 3, 5]

Week 6, Topic 6: The Monetary System

Lesson 12
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 16 (Mankiw, 2018, pp. 319-341)
Discussion
Aligned CLO: • Describe how banks create money.
3, 6-8 • List and describe three tools in the Fed’s monetary toolbox.
• Problems in controlling the money supply
Practice
• Describe how banks create money. If the Fed wanted to use all three
of its policy tools to decrease the money supply, what would it do?
• Case study: Bank runs and the money supply.
Assessment: [1, 2, 3, 5]
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Week 7, Topic 7: Money Growth and Inflation

Lesson 13
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 17 (Mankiw, 2018, pp. p.343-366)
Discussion
Aligned CLO: • Explain how the money supply affects inflation rate and nominal
1, 3, 6-8 interest rate;
• Understand the Classical Dichotomy & Monetary Neutrality;
Compute other variables from Velocity Formula or The Quantity
Equation
Practice
• Explain how the money supply affects inflation rate and nominal
interest rate.
• Active learning 1: compute nominal GDP & velocity of money.
Assessment: [1, 2, 3, 5]

Week 7, Topic 7: Money Growth and Inflation

Lesson 14
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 17 (Mankiw, 2018, pp. p.343-366)
Discussion
Aligned CLO: • Recall one of the ten principles of economics. Discuss how inflation
1, 3, 6-8 is like a tax. Give an exercise to demonstrate the Fisher effect.
• List and describe six costs of inflation. Explain & give examples for
each cost of inflation.
Practice
• Explain how inflation is like a tax.
• Active learning 2: apply the quantity theory in 5 steps.
• Active learning 3: an exercise to see the cost of inflation (tax
distortion).
Assessment: [1, 2, 3, 5]

Week 8, Topic 8: Aggregate Demand and Aggregate Supply (Facts & AD)
Lesson 15
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 20 (Mankiw, 2018, pp. 417-452)
Discussion
Aligned CLO: • Three facts about fluctuations (co-movement, persistence, volatility).
4, 6-8
 11

• Deriving AD and why it slopes downward: wealth effect, interest-rate

effect, exchange-rate effect.
• Shifts in AD: C, I, G, NX shocks.
Practice
• Identify which events shift AD and in which direction; draw and
narrate effects on Y and P.
• Active learning 1: Give students 4 events and ask them what
happens to the AD curve in each event.
Assessment: [1, 2, 3, 5]

Week 8, Topic 8: Aggregate Demand and Aggregate Supply (AS - Short run vs.
Lesson 16 Long run)
Teaching methods: Lecture
2 hrs theory Reading
• Chapter 20 (Mankiw, 2018, pp. 417-452)
• Chapter 12 (McConnell et al., 2018, pp. 243-265).
Aligned CLO:
4, 6-8 Discussion
• LRAS: determinants and growth; SRAS: why it slopes upward.
• Shifts in SRAS (input prices, expectations, productivity); role of
expected price level.
Practice
• Ask them to explain why each event that changes any of the 4
production factors will shift the AS curve.
Assessment: [1, 2, 3, 5]

Week 9, Topic 9: Aggregate Demand and Aggregate Supply (Sources of

Lesson 17 Fluctuations & Policy)
Teaching methods: Lecture
2 hrs theory Reading
• Chapter 12 (McConnell et al., 2018, pp. 243-265).

Aligned CLO: Discussion

4, 6-8 • Demand shocks vs. supply shocks; propagation and recovery paths.
• Stabilization trade-offs and the speed of adjustment.
Practice
• Active learning 2: Give students 2 events. Ask them to use the
model of aggregate demand and aggregate supply to analyze
the effect on the economy in each case.
Assessment: [1, 2, 3, 5]
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Week 9, Topic 9: Monetary Policy and Fiscal Policy (Monetary Policy & AD)
Lesson 18
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 21 (Mankiw, 2018, pp. 453-478)
Discussion
Aligned CLO: • Use the theory of liquidity preference to explain how changes
1, 5, 6-8 (increase/decrease) in the money supply affect the equilibrium
interest rate.
• Explain how these changes in monetary policy affect the
aggregate-demand curve?
Practice
• Active learning 1: help them to understand more deeply abt.
the determinants of money demand (r, Y, P).
• Give students examples on expansionary/ contractionary
monetary policies; ask them about the case to use & the effects
(advantages/ disadvantages) of each policy.
• Active learning 2: help them to understand more deeply abt. when &
how to use monetary policies.
Assessment: [1, 2, 3, 5]

Week 10, Topic 10: Monetary Policy and Fiscal Policy (Fiscal Policy & AD)
Lesson 19
Teaching methods: Lecture
Reading
2 hrs theory
• Chapter 21 (Mankiw, 2018, pp. 453-478)
• Huynh & Nguyen (2020).
Aligned CLO: Discussion
1, 5, 6-8 • Explain how changes in government purchases influence AD
through the multiplier effect and the crowding-out effect.
• Explain how changes in taxes influence AD.
Practice
• Active learning 3: require students to compute multiplier, ∆Y, ∆G…
• Contrast outcomes of a tax cut vs. spending increase of equal size.
Assessment: [1, 2, 3, 5]

Week 10, Topic 10: Monetary Policy and Fiscal Policy (Stabilization Debate &
Lesson 20 Synthesis)
Teaching methods: Lecture
2 hrs theory Reading
• Chapter 21 (Mankiw, 2018, pp. 453-478)
 13

• Huynh (2020).
Aligned CLO: Discussion
1, 5, 6-8
• Explain whether policymakers should use monetary & fiscal policy to
control AD and stabilize the economy. If so, when? If not, why not?
Practice
• 250-word memo: advise a central bank/treasury on responding to a
negative supply shock with above-target inflation.
Assessment: [1, 2, 3, 5]

Course Policies
- Read lecture notes, textbook & required materials carefully before class lectures.
- Attend all classes and participate actively in class discussion.
- Do not hesitate to ask questions!
- Do not speak Vietnamese in classes.
- Do not engage in activities that disrupt or disrespect the lecturer & other students (i.e.
cell phone using in class).
- Plagiarism and late homework will be not accepted and will receive a grade of zero.
- To serious plagiarism, students may get an F (fail) for the whole course.
- Note any changes or additions to course schedule or materials. It is YOUR
RESPONSIBILITY to check the course website and to come to class.
- Students who are absent for 20% of class hour will get an F (fail) grade.

Ho Chi Minh City, / /2025

Dean Program director/Head of Lecturer
department

Kang Seung Won Vo Ngoc Thao Nguyen Huynh Cong Minh

 APPENDIX

Appendix 1. Rubrics 4
Rubric [1]. This rubric is used to perform assessment number (1).

Needs
Unsatisfactory Satisfactory Good Excellent
CLOs Weight (%) Improvement
Criteria Below 60 70-79 80-89 90-100
60-69

- Active Participation 50 Does not Rarely Participates Regularly Actively

and do all online participate, participates, often occasionally, participates in contributes to
quizzes unprepared, and unprepared, generally discussions, discussions,
shows no contributions are prepared, but generally offers insightful
engagement. minimal. contributions are prepared, comments and
basic. occasional questions, always
insightful prepared.
contributions.
- Engagement with 25 Does not Rarely engages Engages with Engages with Frequently
Peers 1-8 engage with with peers, peers, but with peers, collaborates,
peers, lacks minimal support, minimal support occasionally supports peers,
support and poor listening. or active supports and listens actively.
listening skills. listening. listens.
- Respect and 25 Disrespectful, Occasionally Shows respect Generally Always respectful,
Professionalism unprofessional disrespectful, and respectful, maintains
behavior. lacks professionalism, mostly professionalism,
professionalism. but professional, positive attitude.
inconsistently. good attitude.

Rubric [2]. This rubric is used to perform assessment number (2).

4 The rubrics depend on each school's policies, concentrations and courses

 15

Max.
Criteria CLOs Weights Scoring Criteria Points Score
(%)
Organization The type of presentation is appropriate for the topic and audience. 5
15 Information is presented in a logical sequence. 5
Presentation appropriately cites a requisite number of references. 5
Content Introduction is attention-getting, lays out the problem well, and establishes a 5
(45 points) 45 framework for the rest of the presentation.
Technical terms are well-defined in language appropriate for the target audience. 5
Presentation contains accurate information. 10
1-8 Material included is relevant to the overall message/purpose. 10
Appropriate amount of material is prepared, and points made reflect well their 10
relative importance.
There is an obvious conclusion summarizing the presentation. 5
Presentation Speaker maintains good eye contact with the audience and is appropriately 5
(40 points) 40 animated (e.g., gestures, moving around, etc.).
Speaker uses a clear, audible voice. 5
Delivery is poised, controlled, and smooth. 5
Good language skills and pronunciation are used. 5
Visual aids are well prepared, informative, effective, and not distracting. 5
Length of presentation is within the assigned time limits. 5
Information was well communicated. 10
 16

Total Score 100

Rubric [3]. This rubric is used to perform assessment number (3).

Criteria Weights (%)

CLOs Scoring

Poor Fair Good Excellent

(<22) [22-26) [26-32) [32-40]
- Content is - Content is not - Some Content is - Content is
incomplete. comprehensive and /or comprehensive, accurate, comprehensive,
- Major points persuasive. and persuasive. accurate, and
are not - Major points are - Major points are persuasive.
clear and /or addressed, but not well somewhat clear and are - Major points are stated
Content and
1-8 persuasive supported. well supported. clearly and are well
development (40 40
- Research is inadequate - Research is adequate supported.
points)
or and - Research is adequate,
does not address course addresses course timely
concepts. concepts. and addresses course
- Content is inconsistent - Content and purpose of concepts.
with regard to purpose the writing are somewhat - Content and purpose
clear.
 17

and of the
clarity of thought. writing are clear.

(<17) [17-20) [20-24) [24-30]

- Organization - Structure of the - Structure of the - Structure of the
and paragraph paragraph is organized, paragraph is
structure detract is not easy to follow. but not clear and easy to clear and easy to follow.
Organization from the - Paragraph transitions follow.
and message of the need
30
structure (30 writer. improvement.
points) - Paragraph is
disjointed
and lack
transition of
thoughts.
(<11) [11-13) [13-16) [16-20]
- Paper contains - Paper contains few - Rules of grammar, - Rules of grammar,
Grammar,
numerous grammatical, punctuation usage, and punctuation usage, and punctuation
Punctuation,
grammatical, and spelling errors. are are followed;
Spelling and
20 punctuation, - Language lacks clarity used; spelling does not spelling is correct.
Academic
and spelling or distract. - Language is clear and
language (20
errors. includes the use of some - Language is brief and precise; sentences
points)
- Language uses jargon or conversational precise; sentences display display consistently
jargon or tone. structure. strong, varied structure.
 18

conversational
tone.
(<5) (5-6) [6-8) [8-10]
- Paper lacks - Paper follows most - Paper touches on the - Paper follows
many guidelines. designated guidelines. designated
elements of - Paper is over/ -Paper is the appropriate guidelines.
correct under word length. length as described for the - Paper is the
Format (10
formatting. assignment but ends too appropriate
points)
- Paragraph is quickly. length as described for
inadequate/exce the
ssive in assignment, but does
length. not end
too quickly.

Rubric [4]. This rubric is used to perform assessment number (4) & (5).

Needs
Unsatisfactory Satisfactory Good Excellent
Criteria CLOs Weight (%) Improvement
Below 60 70-79 80-89 90-100
60-69

Multiple 50 Poor Limited Satisfactory Shows good Demonstrates an

Choice understanding of understanding understanding understanding of excellent understanding of
Questions microeconomic with several of basic microeconomic key microeconomic
(MCQs) principles. incorrect concepts, but concepts with a few concepts and principles.
answers. some minor errors. Correctly answers almost
confusion in all questions with precise
applying them. and accurate reasoning
Short 50 Poor Limited Satisfactory Good Excellent understanding
Answer understanding understanding understanding understanding with and application of
 19

Questions 1-8 with little to no and application. with basic clear and organized microeconomic concepts.
(SAQs) application or Responses may application and answers, though Well-organized, clear, and
clarity in be unclear or organization. may lack some thorough responses.
responses. poorly depth.
organized.

Appendix 2. Mapping Between CLO And PLO

PLO
CLO Business Economics
Administration
CLO1. Define major macroeconomic variables and explain their relationships through basic 1 2
macroeconomic models.
CLO2. Systematically understand the determinants of short-run and long-run economic growth. 1 2

CLO3. Analyze the simple structure of money markets and financial institutions; the monetary system 1 2
and its operation; the monetary growth and inflation within the real economy.
CLO4. Analyze the forces that affect the aggregate level of economic activity and the business cycle 1 2
using AD-AS analysis.
[Link] monetary and fiscal policies to achieve policy goals; analyze the impact of 1 2
expansionary/contractionary fiscal and monetary policies on the national income, employment and the
price level.
CLO6. Apply macroeconomic tools and concepts that are learned in class to address real-world economic 6 8
issues.
CLO7. Perform actively and collaboratively in learning activities to approach new knowledge. 11 10
CLO8. Work independently as well as part of a team in a range of contexts. 11 10