Course Syllabus

Explore the factors that affect the overall performance of economies, focusing on how public policies help and hinder the achievement of intended outcomes, such as reducing unemployment or increasing trade.

This course includes the following units:

• Unit 1: Introduction to Economics
• Unit 2: Macroeconomics: Gross Domestic Product, Inflation, and Unemployment
• Unit 3: Aggregate Demand, Supply, and Equilibrium
• Unit 4: Money, Banking, and Monetary Policy
• Unit 5: Fiscal Policy
• Unit 6: International Trade and Finance

Upon successful completion of this course, you will be able to:

• Describe the determinants of total output and the ways to measure nominal and real gross domestic product (GDP);
• Differentiate full employment and unemployment, and the three forms of unemployment;
• Define inflation and explain ways of computing the general movement in prices;
• Explain the model of aggregate demand and aggregate supply and the way the equilibrium price level and real GDP are determined;
• Analyze the government's use of fiscal policy to stabilize the economy;
• Define money, its role in the economy, and the way money is created in the banking system;
• Evaluate how the U.S. Federal Reserve uses monetary policy to influence key variables to achieve economic growth, price stability, and full employment;
• Apply fiscal policy to resolve economic issues and stimulate economic growth;
• Analyze the relationship between inflation and unemployment and the attitudes of various schools of thought toward active management of the economy;
• Analyze capital flows and their impact on the foreign exchange market and the aggregate economy; and
• Explain the importance of comparative advantage, specialization, interdependence, and trade.

Throughout this course, you will also see learning outcomes in each unit. You can use those learning outcomes to help organize your studies and gauge your progress.

This course's primary learning materials are articles, 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 will help you understand how the learning materials fit into the course as a whole. You can also see a list of all the learning materials in this course at this link.

Some parts of this course may have been created or reviewed with the support of artificial intelligence (AI). To make sure you receive accurate, high-quality, and academically sound learning materials, all AI-assisted content is carefully checked and approved by Saylor Academy's faculty and subject matter experts.

Only the final exams are considered when awarding you a grade for this course. To pass this course, you will need to earn a grade of 70% or higher on either the Certificate Final Exam or the Saylor Direct Credit Final Exam.

Your score on each exam will be calculated as soon as you complete it. There is a 7-day waiting period between each attempt of the Certificate Final Exam, and a 14-day waiting period between each attempt of the Saylor Direct Credit Final Exam. Be sure to study between each attempt!

If you wish to receive an ACE transcript to earn transfer credit toward degree programs at our Degree Completion Partners, you may choose to take the optional Saylor Direct Credit Final Exam. This exam will be password-protected and requires a proctor. The proctoring fee is $5. You may only attempt the Saylor Direct Credit Final Exam a maximum of three times. If you do not pass the exam after three attempts, you will not be able to receive an ACE transcript.

There are end-of-unit assessments in this course that are designed to help you study and do not factor into your final course grade. You can take them as many times as you want until you understand the concepts they cover.

You can see all of these assessments at this link.

This course is eligible for college credit via Saylor Academy's Direct Credit Program. If you are seeking to earn college credit, you must take and pass the Saylor Direct Credit Final Exam. That exam will be password protected and require the presence of a proctor. Upon passing the Saylor Direct Credit Final Exam, you will receive a Proctor-Verified Course Certificate, and will be eligible to earn an Official Transcript. For more information about applying for college credit, review the Guide to College Credit Opportunities. Be sure to check the section on proctoring for details on fees and other technical requirements.

Note: There is a 14-day waiting period between attempts of the Saylor Direct Credit Final Exam. There is no imposed wait period between attempting the certificate-bearing final exam and the Saylor Direct Credit Final Exam. Some Saylor Direct Credit Final Exams have a maximum number of attempts allowed, which will be detailed on the exam's instructions page.

The certificate earned by passing this self-paced course displays the program hours you completed and continuing education credits (CEUs). CEUs document successful completion of courses that are designed to improve the knowledge and skills of working adults. Many industries value CEUs, and now your certificate reflects them clearly, and they may be used to support career advancement or to meet professional licensing standards. This course contains 2.7 CEUs.

ECON102: Principles of Macroeconomics is a self-paced course, meaning you can decide when to start and complete the course. We estimate the "average" student will take hours to complete. We recommend studying at a comfortable pace and scheduling your study time in advance.

Learning new material can be challenging, so here are a few study strategies to help you succeed:

• Take notes on terms, practices, and theories. This helps you understand each concept in context and provides a refresher for later study.
• Test yourself on what you remember and how well you understand the concepts. Reflecting on what you've learned improves long-term memory retention.

This course is delivered entirely online. You will need access to a computer or web-capable mobile device and consistent internet access to view or download resources and complete auto-graded assessments and the final exam.

To access the full course, including assessments and the final exam, log into your Saylor Academy account and enroll in the course. If you don't have an account, you can create one for free here. Note that tracking progress and taking assessments require you to log in.

For more details and guidance, please review our complete Technical Requirements and our student Help Center.

Optional Saylor Academy Mobile App

You can access all course features directly from your mobile browser, but if you have limited internet connectivity, the Saylor Academy mobile app provides an option to download course content for offline use. The app is available for iOS and Android devices.

This course is entirely free to enroll in and access. All course materials, including textbooks, videos, webpages, and activities, are available at no charge. This course also contains a free final exam and a free course completion certificate.

The Saylor Direct Credit Final Exam requires a proctoring service for identity verification. The cost of proctoring this optional exam is $5 per session.

This course is available for transfer credit through the American Council on Education (ACE)®. For more information on taking this course for credit, please visit our ACE® web page.