LAGOS STATE UNIVERSITY, OJO

DEPARTMENT OF ECONOMICS
SECOND SEMESTER, 2022/2023 SESSION
ECO 102: PRINCIPLES OF ECONOMICS II
COURSE OUTLINE

1. INTRODUCTION TO MACROECONOMICS Dr. I.A. Adenuga

(a) What is Macroeconomics?
(b) Microeconomics Vs Macroeconomics
(c) Origin and Growth of Macroeconomics
(d) Why study Macroeconomics?
(e) Importance of Macroeconomics
(f) Limitations of Macroeconomics

2. SOME CONCEPTS IN MACROECONOMICS AND USE OF MODELS Dr K.O. Atoyebi

(a) Stock and Flow Variables
(b) Equilibrium and Disequilibrium
(c) Partial and General Equilibrium Analysis
(d) Static and Dynamic Analysis
(e) Use of Models in Macroeconomics

3. THE CIRCULAR FLOW MODELS OF ECONOMY Prof I.A.O. Bakare

(a) Circular Flows in a Two-Sector Model
(b) Circular Flows in Three-Sector Model: A Model with Government Income and
Expenditure
(c) Circular Flows in Four-Sector Model: A Model with the Foreign Sector

4. MEASUREMENT OF NATIONAL INCOME Dr B.O. Kolawole

(a) Some Concepts Related to National Income
(b) National Income Measures
(c) Nominal and Real GNP
(d) Methods of Measuring National Income
(e) Treatment of Net Income from Abroad

5. CONSUMPTION FUNCTION Dr A.S. Lawal

(a) The Concept of Consumption: Average and Marginal Propensity to Consume
(b) Saving Function: Average Propensity to Save and Marginal Propensity to Save
(c) Determinants of Propensity to Consume
(d) Keynes's Theory of Consumption and Keynes's Psychological Law of Consumption

6. THEORY OF MULTIPLIER Dr R.A. Danmola

(a) The Concept of Investment Multiplier
(b) Diagrammatic Representation of Multiplier
(c) Leakages in the Multiplier Process
(d) Importance of the Concept of Multiplier
(e) The Paradox of Thrift

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7. MONEY DEMAND AND MONEY SUPPLY Dr R.O. Yussuff
(a) The Classical and Neo-classical View on Holding Money
(b) The Keynesian Theory of Demand for Money
(c) The Keynesian Theory of Interest and Money Market equilibrium
(d) The Sources of Money Supply
(e) The Measures of Money Supply in Nigeria
(f) The Theory of Money supply

8. INFLATION AND UNEMPLOYMENT Dr A.O. Olateju

(a) What is Inflation; Disinflation; and Deflation?
(b) Methods of Measuring Inflation
(c) Types of Inflation
(d) Economic Effects of Inflation
(e) Inflation and the rate of unemployment
(f) Explanation of Phillips Curve

REFERENCES
i. Ahuja, H.L. (2013). Macroeconomics: Theory and Policy. 19th Revised Edition. S.
Chand & Company PVT. Limited.
ii. Blanchard, O. (2006). Macroeconomics. 4th Edition. Pearson International Edition.
iii. Dornbusch, R., Fischer, S., & Syartz, R. (2004). Macroeconomics. International
Edition. 9th Edition.
iv. Dwivedi, D.N. (2014). Macroeconomics: Theory and Policy. 3rd Edition. McGrawHill
Education (India) Private Limited.
v. Iyoha, M.A., Oyefusi, S.A., & Oriakhi, D.E. (2003). An Introduction to Modern
Macroeconomics. Revised Edition. Mindex Publishing.
vi. Mukherjee, S., & Ghose, A. (2009). Principles of Macroeconomics. An International
Text. Graeme Chamberlin and Linda Yueh (2006). Macroeconomics. Thomson.
vii. Olofin, S.O., & Salisu, A.A. (2014). An Introduction to Macroeconomics. 2nd Edition.
Evans Brothers Limited.

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