Principles of Macroeconomics

This course is a general introduction to macroeconomics which studies the economy as a whole. Topics covered include the determination of output and national income, economic growth, unemployment, inflation, the business cycle, fiscal policy, monetary policy, and open economy. This course focuses on the evolution of the macroeconomic theory from its emergence until the recent theoretical developments so students will fully understand the roots of differences among contemporary approaches to macroeconomics. This course also explains the differences in economic growth and living standards of different countries by examining differences in cultural views, beliefs, traditions, social practices, and strategies of development.