Macroeconomics

This comprehensive course in Macroeconomics offers students the chance to understand economics from the broadest view possible. Students will learn how local, regional and even global economies work as an entire system and affect each other in countless ways. Particularly in this increasingly global world, a fundamental understanding of macroeconomics provides an imperative foundation from which business professionals, government officials and countless others make important decisions every day. Various types of governments and markets can lead to sound or unsound monetary policy that affect different economies in different ways. Understanding various economic indicators including prevailing indexes and interest rates will provide students with an invaluable foundation that will inform their approach to business and individual financial matters for years to come. Macroeconomics introduces students to such core concepts as supply and demand, monetary policy and inflation, employment measures and growth concerns. Students will understand the role of the Federal Reserve here in the United States and gain a comprehensive understanding of how individual countries’ monetary policy can affect everyone else.

This course introduces foundational concepts of economic principles, such as opportunity costs, supply, and demand. However, the course focus is to explore primary macroeconomic principles, including measurement, real economy in the long run, money economy in the long run, macroeconomic fluctuations, and policy issues. Students will be presented with real-world contemporary examples that apply theory to practice, demonstrating the relevance of macroeconomic thought.

Upon completion of this course, the student will be able to:

• Analyze the economic way of thinking
• Explain how free and competitive markets allocate resources efficiently through the interaction of supply and demand
• Evaluate the different effects caused by changes in demand and supply conditions
• Analyze the measurements of gross domestic product and inflation as key indicators of aggregate economic performance
• Explain the significant relationships between employment and output in the short and long runs
• Analyze the differences in growth rates over time and between economies
• Explain how the financial markets function to allocate loanable funds and determine interest rates
• Outline the key components of the U.S. monetary system
• Analyze changes in the supply of and demand for money
• Explain how changes in aggregate supply and aggregate demand result in business cycles
• Analyze economic policy using the aggregate expenditure multiplier
• Analyze the relationship between inflation and unemployment in the short run
• Analyze the demand and supply effects of fiscal policy on employment and gross domestic product
• Analyze the objectives and tools of the Federal Reserve’s monetary policy
• Analyze the effects of government policies in international markets

This class includes the following eText:
Bade and Parkin. (2011). Foundations of Macroeconomics; 5/E; ISBN: 9780136125839

This course includes up to 10 hours of live chat tutoring.