EC 103 - Macroeconomic Principles

(3.00 cr.)

Prerequisite: EC 102 . Introduces macroeconomic equilibrium, its impact on unemployment and inflation, and the effect of economic policy initiatives on that equilibrium. Students learn to predict the qualitative effect on changes in economic aggregates on each other and on GDP. Topics include the business cycle; national income and product accounting; equilibrium in the aggregate demand-aggregate supply model; the multiplier; the national debt; financial intermediaries; money and its creation; fiscal and monetary policy; comparative advantage and the gains from international trade; commercial policy; foreign exchange markets; and the balance of payments. Effects of international transactions are incorporated with each topic. GT