Upon completion of this course, the student will be able to:

  • Analyze the economic way of thinking
  • Explain how free and competitive markets allocate resources efficiently through the interaction of supply and demand
  • Evaluate the different effects caused by changes in demand and supply conditions
  • Analyze the measurements of gross domestic product and inflation as key indicators of aggregate economic performance
  • Explain the significant relationships between employment and output in the short and long runs
  • Analyze the differences in growth rates over time and between economies
  • Explain how the financial markets function to allocate loanable funds and determine interest rates
  • Outline the key components of the U.S. monetary system
  • Analyze changes in the supply of and demand for money
  • Explain how changes in aggregate supply and aggregate demand result in business cycles
  • Analyze economic policy using the aggregate expenditure multiplier
  • Analyze the relationship between inflation and unemployment in the short run
  • Analyze the demand and supply effects of fiscal policy on employment and gross domestic product
  • Analyze the objectives and tools of the Federal Reserve’s monetary policy
  • Analyze the effects of government policies in international markets
    This class includes the following eText:

Bade and Parkin, Foundations of Macroeconomics, 6th Edition (2013); ISBN: 0132831007