This course provides a comprehensive overview of macroeconomic issues. The determination of output, employment, unemployment, interest rates, and inflation are studied. Monetary and fiscal policies are discussed. Important policy debates such as, the sub-prime crisis, social security, the public debt, and international economic issues are critically explored. The course introduces basic models of macroeconomics and illustrates principles with the experience of the U.S. and foreign economies.

TextbookMacroeconomics – OpenStax– free pdf (OS)

Alternative textbook (for people who absolutely don’t like ebooks): Macroeconomics by Hubbard, O’Brien (HO), no other author listed, any edition.  Cheap used on

Khan Academy video course: Macroeconomics

Grades: HWs 40%, tests 40%, participation 20%

Course schedule, Readings, HWs

1.     Choices, costs and benefits, production possibilities (ch 1,2)

2. Comparative advantage, trade, protectionism (HO ch 6, OS ch 20,21, skip supply-demand section)

3. How are prices, wages and interest rates determined? (ch 3)

4.  GDP: Total production and real income  (OS ch 6, HO Ch 7)

5.   Economic growth (OS ch 7, HO ch 9-10)

6.    Unemployment  (OS ch 8, HO ch 8)

 7. Inflation (OS ch 9, HO ch 8)

8. AS-AD model  (OS ch 11,12+browse ch13-14,  HO ch. 12)

9.  Fiscal policy (OS ch.17, HO ch 15)

10.    Money, banks and Fed (OS ch 14,  HO ch. 13) 

11.    Monetary policy (OS ch 15,  HO ch.14)  

Policy presentations,  7-10 min.

Ask a question and explain your answer. Your question should be related to any economic concept covered in class or any policy such as healthcare, immigration, poverty, inequality, debt, foreign trade, etc.   Read 1-2 articles, listen to a podcast, do online research.  A brief discussion of a book on an economic issue would be welcome too.

Econ sources to choose an issue:

Advanced Policy Analysis students will write an Expert Article  on an issue of their choice. Discuss your topic with instructor.

Links for research:

Firms, the stock market and corporate governance (ch 5 or extra module)

Exchange rates  (OS 16,10,  HO ch.17,18 parts on exchange rates) 

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