Specific information about this course and its requirements can be found below. For more general information about taking Saylor Academy courses, including information about Community and Academic Codes of Conduct, please read the Saylor Student Handbook.
This course is an exploration of the factors that impact the overall performance of economies. The course focuses on public policies helping and hindering the achievement of intended outcomes, such as reducing unemployment or increasing trade.
Economics is traditionally divided into two parts: microeconomics and macroeconomics. The main purpose of this course is to introduce you to the principles of macroeconomics. Macroeconomics is the study of how a country's economy works while trying to discern among good, better, and best choices for improving and/or maintaining a nation's standard of living and level of economic and societal well-being. Historical and contemporary perspectives on the roles and policies of government are part of the mix of interpretations and alternatives that surround questions of who or what gains and loses the most or least within a relatively small set of key interdependent players. In the broadest view, that set consists of households, consumers, savers, firm owners, investors, agency and elected officials, and global trading partners in which some wear many hats and face price considerations at two levels.
Consider one distinction between macroeconomics and microeconomics through the way prices are taken into account in both divisions. On one hand, microeconomics focuses on how supply and demand within a given market determine prices. On the other hand, macroeconomics focuses on changes in the price level across all markets. Another distinction resides within goals. A study of microeconomics orients itself toward firm profit maximization and output optimization as well as consumer utility maximization and consumption optimization. In contrast, a study of macroeconomics situates itself around a number of goals including economic growth, price stability, and full employment.
Macroeconomic performance relies on measures of economic activity, focusing on variables and data at the national level within a specific period of time. Macroeconomics entails analyses of aggregate measures such as national income, national output, unemployment and inflation rates, and business cycle fluctuations. This course will prompt you to think critically about the national and global issues we currently face, to consider competing views that may agree or disagree with your own, and to draw challenging conclusions from a vast array of perspectives, tools, and alternatives.
This course includes the following units:
Upon successful completion of this course, you will be able to:
Throughout this course, you'll also see related learning outcomes identified in each unit. You can use the learning outcomes to help organize your learning and gauge your progress.
The primary learning materials for this course are readings, lectures, and videos.
All course materials are free to access, and can be found in each unit of the course. Pay close attention to the notes that accompany these course materials, as they will tell you what to focus on in each resource, and help you to understand how the learning materials fit into the course as a whole. You can also see a list of all of the learning materials in this course by clicking on Resources in the course's navigation bar.
Only the final exam is considered when awarding you a grade for this course. In order to pass this course, you will need to earn a 70% or higher on the final exam. Your score on the exam will be calculated as soon as you complete it. If you do not pass the exam on your first try, you may take it again as many times as you want, following a 7-day waiting period between each attempt. Once you have successfully passed the final exam you will be awarded a free Saylor Certificate of Completion.
There are also end-of-unit assessments and other activities in this course. These are intended to help you study, and do not factor into your final course grade. You can take these as many times as you want to, until you understand the concepts and material covered. You can see all of these assessments by clicking on Quizzes in the navigation bar.
ECON102: Principles of Macroeconomics is a self-paced course, which means that you can decide when you will start and when you will complete the course. There is no instructor or set schedule to follow. We estimate that the "average" student will take 43 hours to complete this course. We recommend that you work through the course at a pace that is comfortable for you and allows you to make regular progress. It's a good idea to also schedule your study time in advance and try as best as you can to stick to that schedule.
Learning new material can be challenging, so below we've compiled a few study strategies to help you succeed:
This course is delivered entirely online. You will be required to have access to a computer or web-capable mobile device and have consistent access to the internet to either view or download the necessary course resources and to attempt any auto-graded course assessments and the final exam.
For additional guidance, check out Saylor Academy's FAQ.
This course is entirely free to enroll in and to access. Everything linked in the course, including textbooks, videos, webpages, and activities, is available for no charge. This course also contains a free final exam and course completion certificate.