What is the macroeconomic condition of the US economy today and where are we going?
COURSE OUTLINE HOW WELL DO YOU EXPECT TO DO IN THE INCOME GAME? HOW WELL THE NATIONAL INCOME DOES, WILL BE AN IMPORTANT DETERMINANT IN HOW WELL YOU DO. This course introduces the student to the overview of a national economy, the theories explaining its performance and the policies used to control and improve it s performance. *Review Appendix to Chapter 1 on Graphs (Graphs must be mastered to pass this course.) INTRODUCTION TO MACROECONOMICS Measuring Domestic Output Chapter 7 This is where YOUR INCOME will come from. A brief but important examination of the main indicators of the economy’s performance. You have mastered this topic when you can: Define GDP, NDP, NI, Saving, Investment and Consumption Draw and explain the Circular-flow-diagram(p 37.) Explain GDP = C + I + G + (X-M) Calculate Real GDP (see Table 7-5) and Real price. Introduction to Economic Growth and Instability Chapter 8 You have mastered this topic when you can: List and explain the four phases of the business cycle.
