The Big Picture: Mastering Macroeconomics

Explore the fundamentals of macroeconomics and gain a comprehensive understanding of how economies function. This course delves into essential economic indicators and the crucial role of government in shaping economic outcomes.

You'll learn how Gross Domestic Product (GDP) is measured and the key components of aggregate demand. We'll examine the consumption function and the powerful Keynesian multiplier effect. Understand the drivers of investment and how government intervention through monetary policy and fiscal policy impacts economic activity.

This course provides a thorough analysis of critical macroeconomic issues, including inflation and unemployment. You'll explore the interplay of aggregate supply and demand, the complexities of the balance of payments and international trade, and the principles of public finance. Finally, we'll investigate factors driving economic growth and development.

Upon completion, you will be able to:

• Analyze major concepts in macroeconomics.
• Explain how national income is determined and measured.
• Analyze the concepts of consumption, saving, and investment.
• Explain the production function and return to scale.
• Demonstrate an understanding of labor demand and labor supply.
• Explain the role of money and its relationship to inflation.

Learning Outcomes:

• CLO 1: Demonstrate understanding of fundamental macroeconomic concepts, mainstream theories, and current practices.
• CLO 2: Apply basic macroeconomic concepts, theories, and models to practical situations, both domestically and internationally.
• CLO 3: Analyze different economic situations and identify appropriate monetary and fiscal tools for addressing economic challenges.
• CLO 4: Utilize current economic information for business decision-making and effectively present analyses (oral and written), collaborating in teams and independently, while adhering to ethical considerations.