I coordinated and taught two sections of EC140, Introduction to Macroeconomics in Winter 2016, and will be teaching the course again in Winter 2017.
EC140 examines the working of the economy with an emphasis on the measurement and determination of national income in the short and long run. The role of the government sector in influencing national income, both directly and through the financial sector is considered. The course closes with a more detailed discussion of the international sector.
Through the course, we develop a core macroeconomic model, and then use this model to assess economic outcomes. Overall, the critical goal is that students learn to assess economic policy decisions within the context of a specified economic model.
Student Learning Outcomes
- Understand how key macroeconomic variables are defined and calculated.
- Use a macroeconomic model to explain how changes in policy, preferences or events in other countries will affect equilibrium income.
- Calculate the effects of such macroeconomic changes on equilibrium income.
- Extend the analysis of macroeconomic models to consider changes in both aggregate demand and aggregate supply.
- Understand how medium and longer-run price adjustment affects equilibrium income and distinguish between short-run and long-run macroeconomic effects.
- Assess the determinants of long-run economic growth.
- Examine the role of money in the economy and understand the effects of changes in monetary policy in the economy.
- Understand how macroeconomic shocks affect inflation and unemployment.
- Assess the role of government debt and deficits in our analysis of the economy.
- Understand at a deeper level the measurement of international economic relationships, the determination of the exchange rate and differences between fixed and flexible exchange rates.