This course teaches students the basic tools of macroeconomics and how to apply them to real world economic policy. The goals of the course are for students to (a) understand how to evaluate macroeconomic conditions such as unemployment, inflation, and growth (b) understand how monetary policy and fiscal policy can be used to influence macroeconomic conditions (c) understand media accounts of macroeconomic events. The course will cover a broad range of topics in macroeconomic policy. Examples of issues discussed include the role of fiscal and monetary policies in stabilizing the economy, the relationship between inflation and unemployment, the role of government policy in promoting long-term economic growth, monetary and fiscal policies in an open economy, deficits and debt, and European Monetary Union. The course is structured around the tools (models) of macroeconomics, using primarily graphs, and occasionally equations. Examples are taken from current and recent real-world macroeconomics events and conditions. Prerequisite: PUBPOL 555 (Microeconomics) or permission of instructor.
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