eco372t | undergraduate
Principles Of Macroeconomics
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Output, Income, and Economic Growth
- Describe the measurement and limitations of the gross domestic product.
- Calculate growth rates and the time needed for an economy to double in size.
Business Cycles, Unemployment, and Inflation
- Identify the different phases of the business cycle, types of workers in the labor force, and components of the Consumer Price Index.
- Calculate unemployment and inflation rates.
Public Finance, and Aggregate Supply and Demand
- Determine the different sources of revenue and expenditures of federal, state, and local governments, as well as the size of the national debt.
- Analyze how aggregate supply or aggregate demand shifts cause output fluctuations in the short run and the long run.
Money and the Federal Reserve
- Examine what money is and how the Federal Reserve controls the quantity of money.
- Assess how changes in money supply and demand affect the interest rate.
Fiscal and Monetary Policy
- Evaluate how the government conducts fiscal policy to influence aggregate demand, real GDP, unemployment, and inflation.
- Evaluate how the Federal Reserve conducts monetary policy to influence aggregate demand, real GDP, unemployment, and inflation.
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