Final Term Assessment

Macroeconomics
ECON-2102

SUBMITTED TO:
Sir Aqueel Wahga
SUBMITTED BY:
Muhammad Eman Saeed
Roll no: 0919-BH-BAF-19
SEMESTER 3
Section C2
 Introduction
I have been studying in Government College University, Lahore for about two years now and I
had studies different courses within this period of time and has learnt different concepts of which
I can take advantage in real-life and can solve many real-life problems. I had studied basic
accounting, statistics and microeconomics before this semester. In this semester, I got to know
about macroeconomics as my subject and I really liked it as it gave me the understanding of our
socio-economic conditions. Macroeconomics helped me to understand the economics conditions
of our country and now I can have some little bit of considerable debate on economic crisis pf
our country not as whole though. From my childhood, I was used to see on television (due to my
parents), the talk shows in which the politicians and the stakeholders used to talk about the
economic crisis of our country and always blame each other for all these troubles. We listen to
them but do not have had any idea what idea they are using and who is correct in his statements.
But now, whenever I watch some of these stalk shows, I always tell my parents that this
statement has no logic as the economics study say this and this. This assessment is being made so
that I would the main aspects which developed my understandings for the present socio-
economics state of our country. Now, I will give a short description of the course. The course
was an extensive one for students like me but it goes same for everyone. The main topics of the
course were as follows:
 Output Growth
 Unemployment
 Inflation
 Goods and services market, the money market and the labor market
 Role of Government in the macro economy
 GDP, National Income
 Keynesian theory of consumption
 The role of money in the economy
 Aggregate Output, the interest rate
 Deficits (monetary policy, fiscal policy, fiscal deficit)
 Open economy macroeconomics (trade deficit, trade surplus, exchange rate)
These were the main topics of our course which further have sub-topics to explain things
broadly. The topics which influenced me and got my interest were Unemployment, Inflation,
Role of Government in the macro economy, GDP, National Income and other sub-topics which
have some influence from the government like fiscal deficit. Explanation will be given for how
these topics have developed my understandings of the real word problems.
(I can easily define and explain my topics but as I understand form the slides which I am
provided, that I have to explain how I am helped by these topics in my thinking and concepts so
the topic explanation will be avoided for most)
  Unemployment
When I used to study at school, this question was often asked by the teachers and other people
that what is your passion and what do you want to become. Whatever my answer was but I was
always thinking in my mind that those engineers and business graduates which I know are
jobless for years and after a long period of time they get jobs. I was curious about this
phenomenon but this course introduced me to the concept of, and reasons behind unemployment.
Unemployment