After passing this course students will be able to:
- use graphs of economic relationships as a tool for economic analysis
- use supply and demand analysis to explain the likely impact of changes in economic conditions and policies
- understand the basic macroeconomic concepts such as determination of aggregate income
- describe the determinants of aggregate output and the ways to measure Gross Domestic Product
- discuss key macroeconomic concerns such as unemployment and inflation
- analyze the government’s role in the economy and examine how it uses its fiscal policy and monetary policy to influence macroeconomic variables