B CUSP 201
Analysis of the aggregate economy: national income, inflation, business fluctuations, unemployment, monetary system, federal budget, international trade and finance. Prerequisite: B CUSP 200; recommended: B CUSP 123. Offered: AWSp.
Introduction to macroeconomic agents and processes. Aggregate economic measurement and the effect of fiscal and monetary policies on income, wealth and society. The effect of globalization on macroeconomic fundamentals will also be discussed.
Student learning goals
The dynamics of the aggregate economy as compared with microeconomic processes.
The role of agents such as households, businesses, labor and government in the macroeconomy.
The significance of primary metrics used to evaluate macroeconomic performance including GDP, unemployment rates, inflation, money supply, interest rates and federal budget deficits/surpluses.
The impact of fiscal and monetary policy and the power (or lack thereof) of governments and central banks in macroeconomic growth. The dynamics of the business cycle.
Macroeconomic integration in a global economy. Deindustrialization and structural economic change due to global economic forces.
The role of political and social processes and in macroeconomic analysis.
General method of instruction
Interactive. Your participation will be an important component of your success.
Class assignments and grading
In addition to a midterm and final exam, there will be a written paper. The topic of the paper will be specified in the syllabus and discussed in class. There will also be brief presentations by students on current topics in Macroeconomics as they arise on a weekly basis.
Grades are based on a combination of the above assignments and your participation. Details will be specified in the syllabus.