Global Macroeconomics 1

BECN
2509

Description

This course focuses on the forces that drive or determine overall national economic activity. A study of macroeconomics is crucial for an appreciation of the set of factors at the national and global level that impact the business firm's demand cost patterns, and identify factors that are beyond the firm's ability to control, but that must be taken into account as part of the decision making and strategic planning process. Movements in major macroeconomic variables, especially inflation interest rates and exchange rates, also exert significant influence on the performance of national and global financial markets. The course is organized around the progressive development of an open economy macroeconomic model that is capable of handling a number of key policy and other variables. The model integrates the interactive roles of consumer, investment, and public sector spending; net exports; international capital movements; and the money supply in determining overall national output, employment levels, and interest rates. This first course focuses on the national economic model. A very practical approach is taken. Prerequisites: None.