Principles Of Macroeconomics – eco372 (3 credits)

This course provides students with the basic theories, concepts, terminology, and uses of macroeconomics. Students learn practical applications for macroeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events.

This undergraduate-level course is 5 weeks. This course is available to take individually or as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Introduction to Macroeconomics

  • Demonstrate the difference between a nation's income and its cost of living.
  • Identify how society manages its scarce resources and why economists are viewed as both scientists and policymakers.
  • Explain how the economy coordinates interdependent economic actors through the market forces of supply and demand.
  • Explain the interaction among households, government, and business displayed in the circular flow model.

The Real Economy in the Long Run

  • Explain the long-run determinants of both the level and the growth rate of real GDP per person.
  • Demonstrate how savings and investment in capital goods affects the production of output.
  • Analyze the concepts of time value of money and risk management in the valuation of a financial asset.
  • Analyze how full utilization of our labor resources improves the level of production and our standard of living.

Money and Prices in the Long Run and Open Economies

  • Examine what money is and how the Federal Reserve controls the quantity of money.
  • Analyze the cause and cost of inflation.
  • Evaluate an open economy's interactions with the rest of the world.
  • Analyze the long-run determinants of trade balances, the real exchange rate and other real and nominal variables.

Short-Run Economic Fluctuations

  • Assess how aggregate demand or short-run aggregate supply shifts cause fluctuations in output.
  • Evaluate how monetary and fiscal policies affect aggregate demand.
  • Analyze the relationship between inflation and unemployment.

Current Macroeconomic Policy

  • Assess government's role in six classic debates in macroeconomics.

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