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:

1. Open-Economy Macroeconomics: Basic Concepts;
2. Demand and Aggregate Supply;
3. Thinking Like an Economist;
4. Interdependence and the Gains from Trade;
5. Application: International Trade;
6. The Market Forces of Supply and Demand;
7. Supply, Demand, and Government Policies;
8. Elasticity;
9. Elasticity and Its Application;
10. Consumers, Producers, and the Efficiency of Markets;
11. Applications: The Costs of Taxation;
12. Measuring a Nation’s Income;
13. Measuring the Cost of Living;
14. Earnings and Discrimination;
15. Income Inequality and Poverty;
16. Production and Growth;
17. Saving, Investment and the Financial;
18. The Basic Tools of Finance;
19. The Monetary System;
20. The Influence of Monetary and Fiscal Policy on Aggregate Demand;
21. Open-Economy Macroeconomics: Basic Concepts;
22. Unemployment;
23. The Short-run Trade-off Between Inflation and Unemployment;
24. Ten Principles of Economics;
25. Six Debates over Macroeconomic Policy.