|This course is an introduction to macroeconomics: the aggregate behavior of individuals, households, and firms. How do the aggregate outcomes of economic decision makers in a market economy respond to changes in external events, particularly events in the world economy? Can an economy's aggregate outcomes be controlled by government policies?
In this course, we will analyze both short-run fluctuations and the long-run growth of the aggregate economy. Topics include: an analysis of the sources of volatility in aggregate demand components (consumption, investment and the foreign sector); the determination of inflation, unemployment, interest rates and exchange rates; the implementation and effects of monetary and fiscal policies; and the role of technology in economic growth. The course will be tailored to address how current policy initiatives affect world economies.