15.014 focuses on using case studies to investigate the macroenvironment in which firms operate. The course is divided in five parts: Basic tools of macroeconomic management Evaluation of different economic development strategies Crises in emerging markets: causes, solutions, and prevention Problems faced by transition economies Challenges of developed countries This course is a full-term version of Applied Macro- and International Economics (15.012), with additional topics.
Describes a simple business, leading to a discussion on inflation/deflation. It also touches on income statements. [Economics playlist: Lesson 1 of 20]
Uses a spreadsheet to show why prices decrease when utiliation is low and why prices increase when utilization is high. [Economics playlist: Lesson 3 of 20]
Reviews President Obama's Stimulus Package and whether the stimulus is large enough to offset the demand shock created by the contraction of credit. [Economics playlist: Lesson 6 of 20]
This activity is designed to provide students with real-world application of classroom curriculum. Students will be required to make budgeting decisions in the light of inflation, unemployment, and other unforeseen additions or strains to the family budget.
The purpose of this course is to provide the student with a fundamental understanding of the principles of macroeconomics. Macroeconomists study how a country's economy works and try to determine the best choices to improve the overall wellbeing of a nation. Typical topics include inflation (the overall level of prices), employment, fiscal policy (government taxing and spending), and money and banking (interest rates and lending policies). By studying macroeconomics and understanding the critical ideas and tools used to measure economic data, the student will have a better perspective on the issues and problems discussed in contemporary economics. Upon successful completion of this course, the student will be able to: Discuss key macroeconomic concerns, including national income accounting, saving and investment, and market forces; Describe the determinants of total output and the ways to measure nominal Gross Domestic Product (GDP) as well as real GDP; Compare and contrast definitions of total employment and unemployment, the three forms of unemployment, and inflation; Explain different ways of computing the general movement in prices, and define the relationship between inflation and unemployment; Explain the model of aggregate demand and aggregate supply; Analyze the government's role in the economy and examine how it uses its fiscal policy and monetary policy to influence macroeconomic variables in order to enable macro and micro economic stability; Describe the mechanics of money supply in detail. They will specifically be able to identify different types of money; explain the money creation process, the money multiplier, and the process of interest rate determination; and discuss the role of the Federal Reserve System and its tools of monetary policy; Identify and analyze major theories of economic growth; Analyze various strategies for developing of less-developed nations; Present the concepts behind international trade. (Economics 102; See also: Business Administration 201)
Provides an overview of macroeconomic issues: the determination of output, employment, unemployment, interest rates, and inflation. Monetary and fiscal policies are discussed. Important current policy debates such as social security, the public debt, and international economic issues are critically explored. Introduces basic models of macroeconomics and illustrates principles with the experience of the US and foreign economies.
Examines techniques and procedures relevant for project planning and implementation in developing countries, including project identification, feasibility analysis, design and implementation monitoring. Considers how to evaluate economic and distributive effects of completed or ongoing development projects. Specific attention given to how institutional setting and other practical influences affect the use of conventional analytical tools.
The "quantum" of economics is the optimizing individual. All of economics ultimately boils down to the behavior of such individuals. Microeconomics studies their basic actions and interactions: individual markets, supply and demand, the impact of taxes, monopoly, etc. Macroeconomics then lumps together these individual markets to study national and international issues. In structure this book—which covers only microeconomics—is not unlike a hiking trip. We start out by putting our boots on and getting our gear together: in Part I we study the optimizing individual. Then we set out on our path and immediately find ourselves hacking through some pretty thick jungle: even simple interactions between just two people (Part II) can be very complicated! As we add even more people (in studying auctions, for example), things get even more complicated, and the jungle gets even thicker. Then a miracle occurs: we add even more people, and a complex situation suddenly becomes simple. After hacking through thick jungle, we find ourselves in a beautiful clearing: competitive markets (Part III) are remarkably easy to analyze and understand.
This readings-based course analyzes the structure and operation of government systems in developing countries, with particular emphasis on regional and local governments. Major topics include: the role of decentralization in national economic reform programs; the potential impact of decentralized governments on local economic development; determination of optimal arrangements for sharing fiscal responsibilities among levels of government; evaluation of local revenue and expenditure decisions; and assessment of prospects and options for intergovernmental fiscal reform. Emphasis is on basic economic concerns, with consideration given to political, institutional, and cultural factors.
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