Advanced macroeconomic analysis of the economy, that is, how economists think in terms of a country. Description of the elements that compose the big picture of an economy and the way they interact. We will cover subjects as: national income accounting, unemployment, inflation, monetary and fiscal policies, budget deficits and debt, long-run growth...
All these terms will make sense and at the end of the course we should be able to understand:
- why the US is running such a huge trade deficit with the rest of the world?
- why some countries grow faster than others?
- why the unemployment rate is so high in some places of the world and how can it be reduced?
- what is the role that a government can play in directing the economy?
- what are the costs of government over-intervention in markets?
- how to tell from macroeconomic graphs what is going on in the US?
We will follow ongoing economic events and analyze them under the light of the concepts learned.
Prerequisite: Econ 100
Grades determined by bi-weekly online quizzes, two in-class examinations, and a comprehensive final exam.