Edgar Mauricio Luna
Analysis of the aggregate economy: national income, inflation, business fluctuations, unemployment, monetary system, federal budget, international trade and finance. Prerequisite: ECON 200; recommended: MATH 111. Offered: AWSpS.
We will develop an economic framework for looking at economies in aggregate, developing a way to explain the structure and performance of national economies and the policies that governments use to try to affect economic performance. At the end of the course you should be familiar with concepts like unemployment, recession, economic growth, inflation, the value of the dollar, the federal deficit, and international trade, and the relationship among those variables.
Student learning goals
• You will be able to analyze and understand what causes economic activity to fluctuate over the years. This goal is accomplished through studying concepts and ideas such as productivity, the circular flow of production and income, the role of saving-investment identity, and the role of financial intermediaries and instruments that turn savings into productive investments.
• You will be able to understand the role of the government in trying to “fix” the economy to restore full employment and low inflation and to explain the interaction between the macroeconomic variables. These goals are accomplished through studying concepts and ideas such as the variables of the real sector, money and monetary policy tools, Aggregate Supply and Aggregate Demand analysis, the conduct and mechanism of transmission of monetary and fiscal policies to restore full employment and low inflation.
General method of instruction
Class assignments and grading