Production, Employment, Prices (PEC2263.01)

Lopamudra Banerjee

In this course on macroeconomic principles, we’ll explore the vital indicators—aggregate production, employment, and prices—that are commonly used to assess the health and overall behavior of an economy. We will evaluate how government policies and various economic institutions influence and shape these variables, along with the economic forces that drive growth and fluctuations. Additionally, we will examine the long and short-term effects of these interventions on a nation’s economic conditions, including poverty and inequality.

This is an introductory course on macroeconomic theory and applications, designed for students in their first and second years of college. We will explore the basic ideas verbally and through written expositions, utilizing macroeconomic data to provide evidential support for our arguments. Graphs and mathematical formulations will be employed to express key concepts formally. Therefore, a grasp of high-school algebra and geometry is required, with some familiarity expected in spreadsheet analysis of data. Additionally, some knowledge of calculus will be advantageous.

The course has two requirements:
[1] Active class participation, grounded in thorough engagement with assigned materials
[2] Completion of a research project with related homework assignments.
Attendance is mandatory, and students are expected to carefully prepare by engaging with assigned readings and actively participating in class discussions. Additionally, students will conduct empirically-grounded research on a specific issue related to production, employment, and prices of a country of their choice.

Learning Outcomes:
The course aims to: [1] help students gain a critical understanding of core economic principles and apply them to a wide range of real-world issues, and [2] guide them in formulating their own analytical questions as they expand their knowledge through active, self-determined investigation. Throughout the course, students will enhance their capabilities for economic reasoning and progress in their abilities to inquire, engage, and communicate effectively.

Delivery Method: Fully in-person
Course Level: 2000-level
Credits: 4
M/Th 1:40PM - 3:30PM (Full-term)
Maximum Enrollment: 18
Course Frequency: Every 2-3 years

Categories: 2000 , All courses , Four Credit , Fully In-Person , Political Economy
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