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Comprehensive Macroeconomics: Understanding Economic Principles and Policies

This course offers an in-depth exploration of macroeconomic principles, theories, and real-world applications through a structured group study plan. Participants will engage with key concepts such as GDP, inflation, monetary policy, and international trade using popular macroeconomics textbooks.

What You'll Learn

  • Master key macroeconomic concepts and indicators
  • Analyze the relationship between unemployment and inflation
  • Understand monetary and fiscal policy frameworks
  • Explore international trade theories and their implications
  • Engage in collaborative learning through group activities and discussions

AI Mentor Inspiration

John Maynard Keynesian

John Maynard Keynesian

John Maynard Keynesian is an AI tutor specializing in macroeconomic theories and policies, providing insights and guidance throughout the course.

Detailed Schedule

Week 1

Introduction to Macroeconomics and Economic Indicators

Explore the foundational concepts of macroeconomics, focusing on key indicators such as GDP, inflation, and unemployment.

  • Topics:
    • The scope of macroeconomics
    • Key economic indicators: GDP, inflation, unemployment
  • Live Session Duration: 60 minutes
  • Homework Duration: 120 minutes
  • Discussion Points:
    • How do GDP, inflation, and unemployment interact in today's economy?
    • What real-world examples illustrate these economic indicators?
    • How do different countries measure and report GDP?
  • Reading Assignments:
    • Mankiw: Chapters 1-2
    • McConnell/Brue/Flynn: Chapters 1-2
    • Krugman/Wells: Chapters 1-2
  • Video Assignments:
    • Watch: 'Understanding GDP and Economic Performance'
    • Tutorial: 'Inflation and Unemployment Explained'

Week 2

Aggregate Demand, Aggregate Supply, and Economic Fluctuations

Delve into the concepts of aggregate demand and supply, and understand their role in economic fluctuations.

  • Topics:
    • Aggregate demand and supply
    • Economic cycles and fluctuations
  • Live Session Duration: 60 minutes
  • Homework Duration: 150 minutes
  • Discussion Points:
    • What factors influence shifts in aggregate demand and supply?
    • How do economic fluctuations impact everyday life?
    • What historical events exemplify changes in the AD/AS model?
  • Reading Assignments:
    • Mankiw: Chapter 10
    • McConnell/Brue/Flynn: Chapters 9-10
    • Krugman/Wells: Chapters 7-8
  • Video Assignments:
    • Watch: 'The AD-AS Model Explained'
    • Tutorial: 'Economic Fluctuations in History'

Week 3

Unemployment and Inflation: Understanding the Trade-offs

Examine the relationship between unemployment and inflation, focusing on the Phillips Curve and its implications.

  • Topics:
    • Types of unemployment
    • Inflation causes and effects
  • Live Session Duration: 90 minutes
  • Homework Duration: 180 minutes
  • Discussion Points:
    • What are the implications of the Phillips Curve for policymakers?
    • How does inflation impact purchasing power?
    • What strategies can be employed to manage unemployment?
  • Reading Assignments:
    • Mankiw: Chapters 28-29
    • McConnell/Brue/Flynn: Chapters 24-25
    • Krugman/Wells: Chapters 12-13
  • Video Assignments:
    • Watch: 'Inflation vs. Unemployment: The Phillips Curve'
    • Documentary: 'The Impact of Inflation on Economies'

Week 4

Monetary Policy and the Role of the Federal Reserve

Learn about the tools of monetary policy and the Federal Reserve's role in managing the economy.

  • Topics:
    • Monetary policy tools
    • The Federal Reserve System
  • Live Session Duration: 90 minutes
  • Homework Duration: 180 minutes
  • Discussion Points:
    • What are the challenges of implementing effective monetary policy?
    • How does the Federal Reserve influence interest rates?
    • What are the potential risks of quantitative easing?
  • Reading Assignments:
    • Mankiw: Chapters 11-12
    • McConnell/Brue/Flynn: Chapters 14-15
    • Krugman/Wells: Chapters 16-17
  • Video Assignments:
    • Watch: 'How the Federal Reserve Works'
    • Tutorial: 'Understanding Monetary Policy'

Week 5

Fiscal Policy and Government Spending: Impacts on the Economy

Explore fiscal policy's role in economic management, focusing on government spending and taxation.

  • Topics:
    • Fiscal policy principles
    • Impact of government spending and taxation
  • Live Session Duration: 90 minutes
  • Homework Duration: 180 minutes
  • Discussion Points:
    • How do fiscal policies affect economic growth?
    • What are the trade-offs of increasing government debt?
    • How can fiscal policy be used to stimulate the economy during a recession?
  • Reading Assignments:
    • Mankiw: Chapters 15-16
    • McConnell/Brue/Flynn: Chapters 18-19
    • Krugman/Wells: Chapters 20-21
  • Video Assignments:
    • Watch: 'Fiscal Policy: An Overview'
    • Documentary: 'The Effects of Government Spending'

Week 6

International Trade and Global Economics: The Bigger Picture

Understand the fundamentals of international trade and its impact on global economies.

  • Topics:
    • Trade theories and benefits
    • Exchange rates and their effects
  • Live Session Duration: 90 minutes
  • Homework Duration: 180 minutes
  • Discussion Points:
    • What are the benefits and drawbacks of globalization?
    • How do exchange rates affect domestic economies?
    • What role do trade agreements play in international relations?
  • Reading Assignments:
    • Mankiw: Chapters 18-19
    • McConnell/Brue/Flynn: Chapters 21-22
    • Krugman/Wells: Chapters 22-23
  • Video Assignments:
    • Watch: 'The Basics of International Trade'
    • Tutorial: 'Understanding Exchange Rates'

Student Experiences

Word Cloud

Weekly collaborative discussionsGroup activities and simulationsPeer presentations and feedback sessions

Learning with Cohorts and AI

Learn Better with Cohorts

Collaborative learning enhances understanding through diverse perspectives, encourages accountability, and fosters a supportive learning environment.

AI-Powered Learning

AI tools provide instant feedback on quizzes, suggest additional resources, and facilitate personalized learning paths based on group progress.

Frequently Asked Questions

What is the main focus of the course?

The course focuses on macroeconomic principles, theories, and real-world applications, utilizing popular textbooks.

What are the prerequisites?

Participants should have a basic understanding of economics and be willing to engage in group discussions.

How is the course structured?

The course includes weekly readings, discussions, group activities, and video assignments to reinforce learning.

What kind of support is provided?

Support includes access to online resources, group discussions, and peer feedback on assignments.

Is there a certificate upon completion?

Yes, participants receive a certificate of completion after finishing the course and actively participating in group activities.

Course Details

  • 6 weeks
  • Cohort-based learning
  • Start anytime

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