Course Description
Examination of the historical behavior and determinants of gross domestic product, unemployment, inflation, interest rates, the money stock, and exchange rates. Consideration of alternative theories of the business cycle and growth, and the role of fiscal and monetary policies for improving welfare.
Athena Title
BUSINESS MACRO
Equivalent Courses
Not open to students with credit in ECON 8920
Prerequisite
Permission of department
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Course Objectives
This course reviews the historical facts about the U.S. economy regarding gross domestic product, the unemployment rate, the inflation rate, interest rates and exchange rates; develops models to explain these facts; and studies the formation, implementation, and evaluation of fiscal and monetary policies in both closed and open (international) economies.
Topical Outline
Economic Principles International Organizations National Income, Unemployment and Inflation Classical Macroeconomics Keynesian Reaction Supply Side Economics Money, Banking and the Federal Reserve Regionalism and the European Union Economic Integration in North America International Monetary System The Balance of Payments Aggregate Supply and the Inflation-Unemployment Puzzle Unemployment, Adaptive and Rational Expectations and Inflation