Fiscal and Monetary Policy

Overview

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This course will empower you to analyze how governments and central banks manage the economy. You will learn to trace the federal budget process and evaluate how fiscal policy, through government spending and taxation, influences economic activity. By examining the ripple effects of central bank actions on interest rates, inflation, and employment, you will gain the skills to assess the effectiveness of monetary policy and its impact on the wider economy.

Syllabus

Fiscal and Monetary Policy

This course begins with the budget process timeline, understanding how governments allocate resources over a fiscal year. Next, we move to fiscal policy and aggregate demand, examining how government spending and taxation influence overall economic activity. We then delve into discretionary fiscal policy multipliers, exploring how targeted fiscal actions can amplify or mitigate economic cycles. Lastly, we'll scrutinize the ripple effects of the Fed's actions to understand how central bank decisions impact interest rates, inflation, and employment. Armed with this information, you'll gain a nuanced understanding of macroeconomic policy-making.