Principles of Macroeconomics
- Subject:
- Social Sciences
- Institution Name:
- The Saylor Foundation
- Collection:
- Saylor Foundation
- Grade Level:
- Post-secondary
- Abstract:
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)
- Languages:
- English
- Material Type:
- Assessments, Full Course, Readings, Syllabi, Video Lectures
- Media Format:
- Graphics/Photos, Text/HTML, Downloadable docs, Video, Interactive
- Conditions of Use:
-
Creative Commons Attribution-Noncommercial 3.0
You are welcome to share, remix, and adapt this course under the terms of the Creative Commons Attribution 3.0 Unported License; however, many linked materials within this course are copyright of their respective authors/owners and may not be openly-licensed. Please respect the copyright and terms of use associated with each resource. - Copyright Holder:
- The Saylor Foundation
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