This entry-level course in economics covers the fundamentals of macroeconomics and, together with ECN 101, it provides the necessary prerequisites for any other upper-level course in economics. This course introduces students to the study of economics as a field of knowledge within the social sciences. In the first part, the focus will be on explaining the fundamental concepts and indicators of macroeconomics, such as of aggregate production, aggregate employment, inflation, economic fluctuations, and long-run growth. The second part is devoted to understanding the basic functioning of a macroeconomic system, i.e. the behavior of and interaction among households, firms, the government, and banks. Finally, students will learn about the instruments and functioning of fiscal and monetary policies aimed at maintaining high levels of output and employment and at stabilizing prices.
- Teacher: Rossana Galli