Economics: Principles of Macroeconomics

Introduction to economic concepts, institutions, and analysis, particularly as related to the economy as a whole. May be taught with traditional approach or with strong mathematical emphasis.

Open to degree and PACE students

HYBRID COURSE: Half of the course will be remote, the other half in person. PREREQUISITES AND CREDITS No prerequisites. Principles of Macroeconomics is a three-credit course, which represents a minimum workload of nine hours a week in a regular semester, including instruction. COURSE DESCRIPTION This course is an introduction to a field of economics called Macroeconomics, which looks at the behavior of the economy as a whole. Macroeconomics directly or indirectly deals with real life questions such as: Does globalization cause unemployment and inequality? Are there limits to economic growth? What is the rate of unemployment telling me about my chances to get a job after college? What are policy makers doing when there is an economic recession and does this work? Why are the Federal Reserve interest rates so important for the economy? Why is there inflation? Macroeconomics offers a rigorous way to understand and address those questions. It relies on the study of facts, data, and theories, which are covered in this course at an introductory level. The course is organized around five modules: • In Module 1, we study basic economic concepts and tools that apply to macroeconomics, • In Module 2, we focus on understanding international trade, • In Module 3, we learn how to measure the main indicators of macroeconomic activity, • In Module 4, we focus on the financial system and money, • In Module 5, we study economic fluctuations and government policies fighting expansions and recessions.

LEARNING OBJECTIVES After this course, you should be able to • Recall important macroeconomic data, trends, and events, • Describe and discuss macroeconomic issues • Apply formulas to calculate macroeconomic indicators and interpret them (quantitative reasoning/ Applied data interpretation), • Analyze the macroeconomy and government policies using diagrams (analytical and critical thinking).

ASSESSMENTS Homework: 40% of the semester score. Tests: 60% of the semester score.