Course Description

This course focuses on the economics of developing countries. The course examines the experience of the so called “developed countries” and seeks to understand the processes by which countries enter into a stage where the standards of living of the masses of people are increased and these increases are sustained over time. One of the central issues in economic development is the issue of economic growth. Other issues include poverty and inequality, the Colonial legacy, the environment, gender institutions, and globalization. This course focuses on both the macro and the micro issues that are central to growth and development.

Learning Outcomes

• Upon completion of the course, the student should:
  
• Examine the particular structural characteristics of developing countries;
  
• Understand theories of economic growth;
  
• Explain the specific problems developing countries and their people face and identify policies to address those problems;
  
• Understand the causes of poverty and inequality in the developing world;
  
• Analyze the role that gender plays in economic development;
  
• Explore environmental problems and issues associated with growth and development.

Course Content

• Definitions and Measures of Development
  
• Sustainable Development
  
• Sustainable Human Development
  
• Models of Long Term Economic Change
  
• Small Size and Caribbean Economic Development
  
• Health and Economic Development
  
• Natural Disasters and Economic Development
  
• Explaining Long Term Economic change
  

Compulsory Reading Materials

• Economic Development*, 12th Ed. (2015) Todaro, Michael P. and Smith, Stephen C.
  
• ISBN: 978-0133406788
  
• Economic Development, CourseSmart eTextbook*, 12th Ed. (2015) Todaro, Michael P. and Smith, Stephen ISBN: 978-0133423600

Optional Reading Materials

• Ardnt, H.W (2001). Economic Development: a semantic history, economic development and cultural change.
  
• Hunt, D (2001). Economic Theories of Development: an analysis of competing paradigms.
  
• UNDP Human Development Report (http://www.undp.org/) especially: Overview, Chapters on HD Indicators and Chapter with Tables.
  
• Seers, Dudley. The Meaning of Development, 1969, International Development Review
  

Course Description

The course introduces the concept a Circular Flow and proceeds to cover the basic concepts pertaining to National Income and its determinants, Gross Domestic Product, Aggregate Demand, Aggregate Supply, and macro-economic equilibrium. Given this framework, the course examines the impact of shocks to the equilibrium and analyzes the use of government economic policy tools to achieve desired outcomes. Additionally, the course will examine a few of the major issues of macroeconomic theory: Economic Growth, Unemployment, Balance of Payments Disequilibrium, Inflation, Budget and Trade Deficits. Finally, issues relevant to the macroeconomic management of small open economies will be discussed.

Learning Outcomes

Upon successful completion of this course the student will be able to;

• Describe and depict the macro-economy with the use schematics, graphs, and equations.
  
• Clearly define the economic output of a country and distinguish between the various concepts used to measure it
  
• Depict and explain the concepts of equilibrium and output gaps in the macro-economy
  
• Analyze and evaluate the impact of shocks to the macro-economic equilibrium, both with equations and with diagrams
  
• Explain the role and impact of government intervention in the macro-economy through its fiscal, monetary, and international trade policies
  
• Analyze and evaluate the use of the different tools available to the government in effecting its economic policies
  
• Identify the types and determinants of unemployment and suggest policies to tackle this problem in the context of Ghanaian economy
  
• Explain the theories of economic growth and identify the factors that restrain economic development in the Chana
  
• Explain the determination of exchange rates and the structure of the balance of payments of a country, and relate their significance to the macro-economy
  

Course Content

• Macroeconomic Issues and Measurement
  
• Macro-Economic Equilibrium: Income Determination in The Short Run
  
• Macro-Economic Equilibrium: Price Determination
  
• Fiscal Policy
  
• Money, Inflation and Monetary Policy
  
• Unemployment
  
• Economic Growth and Development in The Ghana
  
• Exchange Rates and The Balance of Payments
  
• International Trade and Trade Policy

Compulsory Reading Materials

• Lipsey R. G & Chrystal K. A (2011). ECONOMICS (12^th e.d). Oxford University Press.
  

Course Description

This course aims to bring you up to date with modern developments in macroeconomic theory and offer fresh perspectives on the macroeconomic challenges of the day. The course will help students to develop competence in using macroeconomic models to explain the determination of aggregate output, prices, employment, and growth. In addition, students should learn to analyze the impact of monetary and fiscal policy on the macro economy.

Learning Outcomes

By the end of the course, students should be able to:

• Describe and analyze the determinants of output, employment, and growth in the long run;
  
• Describe and analyze business fluctuations in the short run;
  
• Analyze how government policy can influence the economy in both the long run and short run;
  
• Analyse  current developments in the macro economy.
  

Course Content

• Macroeconomic measurement and data
  
• The labour market
  
• Economic growth
  
• Consumption and saving
  
• Investment
  
• Unemployment
  
• A dynamic macroeconomic model
  
• Money and interest rates 
• Financial markets

 Compulsory Reading Materials

• S. Williamson, Macroeconomics, 5^thed., Pearson (2013), and D. Weil, Economic Growth, 2^nd ed., Prentice Hall (2008).

Optional Reading Material

• Blanchard, Olivier and Johnson, David H (2012). Macroeconomics 6th Ed.
  

Course Description

This course focuses on the following topics: basic theory of consumer behavior; production and costs; partial equilibrium analysis of pricing in competitive and monopolistic markets; general equilibrium; welfare; and externalities. It is recommended for students planning to apply to graduate school in economics, accounting, or finance. Intermediate Microeconomics is a core economic theory course that will further a student’s ability to apply models to explain economic decision-making by individuals and firms, how markets allocate resources, how the structure of markets affects choices and social welfare, and the ways that government intervention can improve or impair the functioning of markets. The student will be given the opportunity to apply these models to describe real world current events.

Learning Outcomes

Upon completion of the course, the student should:

• Apply microeconomic models to explain economic decision making by firms and consumers;
  
• Explain how resources are allocated efficiently and how the structure of markets may have an effect on this allocation;
  
• Show how government intervention can improve or impair the functioning of markets;
  
• Solve economic problems where agents are strategically interdependent on one another;
  
• Apply these tools to real-world examples in a correct and proficient manner.

Course Content

• Introduction and preview
  
•  Consumer Theory
  
• Producer theory
  
• Markets
  
• Markets Failure
  
• Asymmetric Information
  

 Compulsory Reading Materials

•  Varian, Hal R. Intermediate Microeconomics: A Modern Approach. 7th ed. New York, NY: W.W. Norton, 2005. ISBN: 9780393927023. The 6th edition may also be used.
  

Optional Reading Materials

•  Jehle, Geoffrey A., and Philip J. Reny. Advanced Microeconomic Theory. Reading, MA: Addison-Wesley, 1997. ISBN: 9780321014368.
  
• Mas-Colell, Andreu, Michael D. Whinston, and Jerry R. Green. Microeconomic Theory. New York, NY: Oxford University Press, 1995. ISBN: 9780195073409.
  
• Varian, Hal R. Microeconomic Analysis. 3rd ed. New York, NY: W.W. Norton, 1992. ISBN: 9780393957358.
  
•  Osborne, Martin J. An Introduction to Game Theory. New York, NY: Oxford University Press, 2003. ISBN: 9780195128956.
  
•  Krishna, Vijay. Auction Theory. Burlington, MA: Academic Press, 2002. ISBN: 9780124262973.
  
•   Klemperer, Paul. Auctions: Theory and Practice. Princeton, NJ: Princeton University Press, 2004. ISBN: 9780691119250.