| Purpose: Students will be able to critically compare and contrast different schools of thought in macroeconomics in terms
of both theory and policy. They will be able to explain the way in which the relevant authorities can use monetary
and fiscal policies to influence economic aggregates such as the level of national output, changes in national
output, income and employment, inflation and interest rates and the relationships between them. They will also
be able to explain the general determinants of economic growth in the long run and the constraints on growth in
South Africa more specifically. |
