Singapore University of Social Sciences

National Economy and Growth

National Economy and Growth (ECO205)

Applications Open: 01 May 2024

Applications Close: 15 June 2024

Next Available Intake: July 2024

Course Types: Modular Undergraduate Course

Language: English

Duration: 6 months

Fees: $1391.78 View More Details on Fees

Area of Interest: Business Administration

Schemes: Alumni Continuing Education (ACE)

Funding: To be confirmed

School/Department: School of Business


ECO205 National Economy and Growth examines macroeconomic and growth issues. Students will first learn about the components and concerns of the macroeconomy, including the topics of Gross National Product (GDP), unemployment, inflation, and growth. The macroeconomy will then be explored using two key approaches: the Aggregate Expenditure approach and the Aggregate Demand/Aggregate Supply approach. Using these models, students will learn to evaluate the effects of fiscal policies such as taxes and government expenditure, and monetary policies including interest rate adjustments. The labour market, long run growth theories, international economy, and the contemporary issues of growth in developing countries will also be covered.

Level: 2
Credit Units: 5
Presentation Pattern: Every semester


  • National output and national income
  • Production and growth
  • Unemployment and the labour market
  • Savings and investments
  • Monetary systems
  • Money growth and inflation
  • Open-economy macroeconomics
  • Business cycles
  • Equilibrium and the IS-LM model
  • Equilibrium and the Aggregate Demand (AD)/Aggregate Supply (AS) approach
  • Fiscal and monetary policies
  • Inflation and unemployment

Learning Outcome

  • Illustrate the concepts of national output and income, unemployment, growth, and business cycles
  • Examine the labour market
  • Discuss the long-run growth theories
  • Apply the IS-LM approach and the Aggregate Demand/Aggregate Supply approach to solve for equilibrium output in the (open) macroeconomy
  • Analyse effects of fiscal and monetary policies
  • Infer the monetary market in relation to savings, investments, and inflation
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