Topic outline

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    • Time: 27 hours
    • Free Certificate
    Economists divide their discipline into two areas of study: microeconomics and macroeconomics. In this course, we introduce the principles of macroeconomics: the study of how a country's economy works as we try to discern among good, better, and best choices for improving and maintaining the nation's standard of living and level of economic and societal well-being. Historical and contemporary perspectives on the role of government policy surround questions of who gains and loses within a small set of key interdependent players. These beneficiaries include households, consumers, savers, firm owners, investors, government officials, and global trading partners.

    Microeconomics studies how supply and demand determine prices in a given market. In macroeconomics, we examine changes in the price level across all markets. The main goals of the macroeconomy are to achieve economic growth, price stability, and full employment. Macroeconomic performance relies on measures of economic activity, such as variables and data at the national level, within a specific period. Macroeconomics analyzes aggregate measures, such as national income, national output, unemployment and inflation rates, and business cycle fluctuations. In this course, we prompt you to consider national and global issues and various competing perspectives, tools, and alternatives.