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Macroeconomic Principles for Understanding the Modern Economy

Has the American economy fully recovered from the Great Recession? What caused the European debt crisis? Should the Federal Reserve raise interest rates? Why does the United States have such large trade deficits with China and the rest of the world? This course aims to impart the macroeconomic concepts that underlie the theoretical groundwork for thinking about these questions and other real-world policy issues that require an understanding of how a modern economy operates. The course will cover a broad range of topics in macroeconomics, including an introduction to key measurements of economic performance such as growth, inflation, and unemployment. We will examine the importance of economic variables such as interest and exchanges rates and see how they are determined. Through long-term and short-term economic models, we will explore the relationships between money, banking, and the real economy.

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You'll Walk Away with

  • A conceptualization of how a modern economy functions (fundamental and short-term drivers of economic cycle and growth) and how economic performance is measured and evaluated by economists
  • An understanding of the difference between the roles of fiscal and monetary policies in economic management, as well as policy trade-offs, drawing lessons from contemporary real-world events such as the housing crisis in the US and the European debt crisis
  • Knowledge of the relationships between money, banking, and the real economy
  • An understanding of how important macroeconomic variables, such as interest rate and exchange rate, are determined and what their impact is on the broader economy

Ideal for

  • Students who are interested in learning macroeconomic concepts and applying them to gain the contextual perspectives for contemporary economic debates
  • Students who wish to explore the field of macroeconomics to supplement their understanding of global affairs
  • Professionals working in business or nonprofit organizations who seek to understand “the big picture” and the macroeconomic forces that affect their industries
NO open sections available for this course at the moment. Please check back next semester.