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.
This is an introductory course in principles of macroeconomics. Macroeconomics studies the aggregate economic phenomena. It addresses questions regarding the causes and effects of inflation and recession (with unemployment), determinants of long-term economic growth, and the role of government policies in maintaining a healthy and prosperous economy in both the â€śfinancialâ€? and the â€śrealâ€? sectors. Our main goal here is to help you learn an approach that enables you to think about aggregate economic issues in an insightful manner, and allows you to critically evaluate the economic information and analysis provided in news publications such as the Wall Street Journal, the Economist, and the like.
Student learning goals
Students will understand and will be able to use the basic macroeconomic terminology
Students will understand how the economy works in the aggregate form
Students will understand the sources of long term economic growth
Students will understand and be able to analyze the causes of short-term economic fluctuations â€“economic downturns and recoveriesâ€”and how macroeconomic policy attempts to prevent recession (and unemployment) as well as inflationary spirals in an economy.
Students will understand those aspects of economic speculative â€śbubblesâ€ť that are responsible for the present economic and financial crisis and solutions put forward by experts.
Students will be able to interpret the empirical information in macroeconomic data, graphical displays, and tables as well as understand and be able to critically evaluate macroeconomic news and analysis in publications such as The Wall Street Journal, The New York Times, The Economist, and others.
General method of instruction
Class assignments and grading