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An introduction to basic macroeconomic concepts such as national income accounting, levels of output and employment, government spending, taxation, debt, money supply, inflation, interest rates, exchange rates and trade balance. The course will provide a unified framework to address these issues and to study the impact of different fiscal and monetary policies on the aggregate behavior of individuals, firms and government. These analytical tools will be used to understand the recent experience of the United States and other countries and to address how current policy initiatives affect their macroeconomic performance.

An introduction to basic macroeconomic concepts such as national income accounting, levels of output and employment, government spending, taxation, debt, money supply, inflation, interest rates, exchange rates and trade balance. The course will provide a unified framework to address these issues and to study the impact of different fiscal and monetary policies on the aggregate behavior of individuals, firms and government. These analytical tools will be used to understand the recent experience of the United States and other countries and to address how current policy initiatives affect their macroeconomic performance.

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy, including the banking system and the Federal Reserve System.

Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy, including the banking system and the Federal Reserve System.