Elements of macroeconomics
A primary issue in economics is how individuals, groups, and societies choose among mutually exclusive alternatives. In particular economics studies how scarce resources, that have alternative uses, are employed to produce various goods and services and distribute those goods and services among persons and groups. The tools developed in this course can be used to address some of the most compelling of contemporary issues, as well as more everyday problems.
The discipline of economics is usually analyzed within the framework of microeconomics or macroeconomics. This course, Principles of Macroeconomics, includes the issues of inflation, unemployment, economic growth, government policy, tax policies, government spending, the banking industry, the value of our money, the wealth and poverty of nations, and international balance of trade and payments.