Detailed Course Information

I.  Basic Economic Concepts 

Defining Economics
What Economists Do
Production Possibilites Frontier
An Overview of Economic Systems
Determinng the Components of Demand
Determining the Components of Supply
Determining a Competitive Equilibrium
Recessions, Depressions and Booms

II. Measurement of Economic Performance

The Circular Flow Model
Real GDP
The New BEA Procedure for Calculating Real GDP
Changes in the Cost of Living and the CPI
Calculating the Rate of Inflation
Measuring the Labor Force and Unemployment
Types of Unemployment
Understanding the Natural Rate of Unemployment

III. National Income and Price Determination

Derving the Aggregate Demand Curve
Movement along the Aggregate Demand Curve
The Market for Loanable Funds and Crowding Out
Shifts in Aggregate Demand
The Short-Run Aggregate Supply Curve
The Long-Run Aggregate Supply Curve
The Labor Market
The Classical View
Equilibrium in the Long Run and the Short Run
Long-Run Macroeconomic Equilibrium

IV. Financial Sector

The Money Supply
Banks Create Money
Determinants of Money Demand
The Money Market
The Market for Loanable Funds
The Federal Reserve System
The Fed's Tools of Monetary Policy
How the Fed Changes the Money Supply
The Quantity Theory of Money
How the Fed Changes the Money Supply

V. Inflation, Unemployment and Stablization Policies

Unanticipated Changes in Aggregate Demand
Unanticipated Changes in Aggregate Supply
Fiscal Policy
New Keynesians versus Monetarists
New Classical Macroeconomics
The U.S. National Debt
Inflation, Deflation, Stagflation and Hyperinflation
Short-Run Causes: Demand-Pull and Cost-Push
Definitions and the Historical Record
Expectations and the Phillips Curve

VI. Economic Growth and Productivity

Investment
Other Policies to Encourage Growth
Policies to Promote Growth

VII. Open Economy

Trade Balance
Balance of Payments
Nominal Exchange Rate
Real Exchange Rates
Purchasing Power Parity
Floating and Fixed Systems
The Managed Float
The International Flow of Goods and Services
Understanding Exports in an Open Economy