ECON 1021 - Macroeconomics

1. Introducing the Economic Way of Thinking
2. Production Possibilities, Opportunity Cost, and Economic Growth
3. Market Supply and Demand
4. Markets in Action
5. Gross Domestic Product
6. Aggregate Demand and Supply.
7. Fiscal Policy.
8. The Public Sector.
9. Federal Deficits, Surpluses, and the National Debt.
10. Money and the Federal Reserve System.
11. Money Creation.
12. Monetary Policy.
13. Business Cycles and Unemployment
14. Inflation.
15. The Keynesian Model.
16. The Keynesian Model in Action.

1. Describe economics as the study of scarcity and decision making.
2. Explain how equilibrium interest rate is achieved in the money market.
3. Analyze how changes in the money supply affect the interest rates.
4. Describe the relationship among quantity demanded, quantity supplied, and equilibrium.
5. Identify the components of GDP.
6. Interpret economic growth using the change in real GDP.
7. Explain how the consumer price index (CPI) and the inflation rate are computed.
8. Explain how fiscal policy combats recession and inflation.
9. Describe the national debt and arguments concerning who bears the burden of the national debt.
10. Articulate the functions of money.

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