Principles of Macroeconomics

In this course, you will gain the ability to analyze market behavior by mastering the core principles of supply and demand. You will learn what causes shifts in demand and supply, from consumer preferences to technological advancements, and determine how these changes affect market equilibrium price and quantity. By understanding these fundamental market dynamics, including more nuanced situations like price rigidities, you will be equipped to interpret real-world economic trends and their impact on industries.

This course empowers you to analyze the key drivers of short-term economic fluctuations by mastering the aggregate demand and aggregate supply model. You will investigate how consumer spending and government policy influence the business cycle and learn to apply the expenditure multiplier to see how small changes create amplified economic effects. By examining the short-run Phillips Curve, you will be able to explain the critical trade-off between inflation and unemployment, giving you a powerful framework to assess macroeconomic performance.

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.

This course will equip you to analyze the real-world impacts of global trade and evaluate the arguments for and against protectionism. You will explore how international commerce creates overall gains while also producing winners and losers, and scrutinize the economic consequences of trade restrictions. By understanding how exchange rates are determined and how nations track their balance of payments, you will gain a sophisticated framework for interpreting the economic forces that shape modern international policy.

This course will equip you to interpret the key macroeconomic indicators used to assess economic health. You will learn to calculate measures of output like real and nominal GDP, analyze labor market trends by understanding the different types of unemployment, and explain how inflation is measured using the Consumer Price Index. Ultimately, this foundational knowledge will enable you to critique economic data, compare standards of living, and make sense of the economic forces shaping our world.

This course equips you with an economic way of thinking to analyze how societies produce and allocate goods and services. You will learn to identify the fundamental questions of economics and explain how concepts like scarcity, opportunity cost, and trade-offs influence production in the global economy. Ultimately, you will be able to apply these core principles to understand the distinctions between different types of goods and the factors that drive economic efficiency and growth, enabling you to make more informed decisions in a world of limited resources.

This course provides a comprehensive look into monetary economics, enabling you to analyze the U.S. banking system and the Federal Reserve's role in managing the economy. You will discover how banks create money through the multiplier effect and how the supply and demand for money influence market equilibrium and interest rates. By understanding the functions of money and the true costs of inflation, you will be prepared to assess the importance of price stability and interpret the complex forces shaping our financial landscape.