Macroeconomics - The Basics

The successful operation of modern economics depends on the participation of economically literate citizens. An economically literate citizen should be able to identify problems, gather relevant information, weigh costs and benefits, analyze incentives, and make choices. Students successfully completing this course will be able to comprehend and use basic economic concepts, interpret major macroeconomic statistics, explain how both monetary and fiscal policy can be used to stabilize the economy, and discuss macroeconomic issues.

• Comprehend and use basic economic concepts including supply and demand.
• Comprehend the variations in different economic systems.
• Calculate and interpret major macroeconomic statistics including GDP, unemployment rates, inflation rates and poverty rates.
• Analyze and evaluate the use of both monetary and fiscal policy to stabilize the economy, including taxing policies.
• Explain examples of major macroeconomic challenges and current trends as well as future trends as consumers and companies.