As an Associate Lecturer for this course in 2011 and 2012, I can say that the amount you learn from the course depends heavily on who teaches the course. In 2011 and 2012, the course was taught well and intuitively. It does lay the foundation for macroeconomics, but currently, macroeconomics is in a big state of flux. In any case, it is useful to have this knowledge; but be critical, think for yourself, and ask questions. Remember, they are just models!

Nothing I couldn't learn from the textbook - the professor was kind of dull (sorry!) and the assignment was really difficult because the lecturer didn't cover basics like market failure (I told my economist mother about my assignment and she said it was too advanced considering how little information we were given in regards to it)