Macroeconomics

Economics, the study of how people allocate resources among tremendous desires and demands, involves the application of principles – scarcity, choice and rational self-interest among others – to financial situations in a consistent manner using the scientific method. Macroeconomics is the study of an economy as a whole while microeconomics analyzes the behavior of an individual consumer.

The purpose of this course is to provide students with the necessary tools and skills to analyze economic situations and their relationships to the world in which they live. Topics include: The Market System and Private Sector; Macroeconomic Basics; Macroeconomic Equilibrium; Aggregate Supply and Demand; Macroeconomic Policy; Tradeoffs, Expectations, Credibility and Business Cycles; Economic Growth and Development; International Trade and Finance.