MACROECONOMICS (4 Credits)
Learning Outcomes:
On successful completion of this course, student will be able to: Explain Ten Principles of Economics, Thinking Like an Economist, Interdependence and the Gains from Trade; Calculate International Trade, Elasticity, Consumers, Producers, and the Efficiency of Markets, The Costs of Taxation, a Nation’s Income, the Cost of Living; Combine earning and discrimination, income and growth, production and growth; Analyze the monetary and Fiscal tools, monetary and fiscal policy, and open-economy macroeconomics; Estimate demand and supply, debates over macroeconomics policy.
Topics:
- Open-Economy Macroeconomics: Basic Concepts;
- Demand and Aggregate Supply;
- Thinking Like an Economist;
- Interdependence and the Gains from Trade;
- Application: International Trade;
- The Market Forces of Supply and Demand;
- Supply, Demand, and Government Policies;
- Elasticity;
- Elasticity and Its Application;
- Consumers, Producers, and the Efficiency of Markets;
- Applications: The Costs of Taxation;
- Measuring a Nation’s Income;
- Measuring the Cost of Living;
- Earnings and Discrimination;
- Income Inequality and Poverty;
- Production and Growth;
- Saving, Investment and the Financial;
- The Basic Tools of Finance;
- The Monetary System;
- The Influence of Monetary and Fiscal Policy on Aggregate Demand;
- Open-Economy Macroeconomics: Basic Concepts;
- Unemployment;
- The Short-run Trade-off Between Inflation and Unemployment;
- Ten Principles of Economics;
- Six Debates over Macroeconomic Policy.
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