Macroeconomics uses the tools of economics to understand how an economy functions and to develop policies that promote economic growth. In this course students will learn about how a national economy works, and how various government policies affect the economy and, by extension, its citizens’ lives. A nation’s overall levels of output and income, employment, and price level are determined by the interaction of spending and production decisions made by all households, firms, government agencies, and others in the economy. Money makes it easier to trade, borrow, save, invest, and compare the value of goods and services. Federal government budgetary policy and the Federal Reserve System’s monetary policy influence the overall levels of employment, output, and prices. When individuals, regions, and nations specialize in what they can produce at the lowest opportunity cost and then trade with others, both production and consumption increases.

PRE-REQUISITES: None

ESTIMATED COMPLETION TIME: 16-18 weeks or approximately 65 – 75 hours

MAJOR TOPICS AND CONCEPTS 

Basic Economic Concepts

  • The Basic Problem of Economics
  • Opportunity Cost
  • Production Possibilities Frontier
  • Economic Systems Models
  • Circular Flow
  • Supply and Demand (Microeconomic review)

Macro Measures and the Business Cycle

  • Three Macroeconomic Goals
  • Gross Domestic Product (GDP)
  • Consumer Price Index (CPI)
  • Unemployment Rate
  • The Business Cycle
  • Aggregate Supply and Aggregate Demand
  • Fiscal Policy

Money and the Federal Reserve System

  • Functions of Money
  • Money Creation
  • The Structure of the Federal Reserve System
  • Monetary Policy

Surpluses, Deficits, and Debt & Trade

  • Budget Deficits
  • The National Debt
  • International Trade
  • Balance of Payments (BOP)
  • Foreign Exchange Markets

LINKS TO FULL COURSE CURRICULUM MAPS

SEGMENT A/B