Carleton University - ECON 2102: Intermediate Macroeconomics I

Intermediate Macroeconomics I (ECON 2102) - is the first part of a two-course sequence that examines the functioning of the aggregate economy. It introduces core macroeconomic concepts and models to analyze key issues such as monetary and fiscal policy, their mechanisms, and their influence on unemployment and economic performance. The focus begins with the distinction between short-run and long-run models, progressing from the simple Keynesian framework to the fixed-price IS-LM model in a closed economy. The course further extends the IS-LM model to the open economy, considering the impact of trade and financial flows under fixed and flexible exchange rate regimes. In the final section, the course explores long-term economic growth, including an introduction to the Solow Growth Model.

Students will engage with topics such as aggregate demand and supply, and the interplay between goods and money markets. The course also covers how monetary and fiscal policies operate within the IS-LM framework, both in closed and open economies, alongside the dynamics of foreign exchange markets. To enroll, students must have completed ECON 1000, ECON 1002, or FYSM 1003 with at least a C-, and ECON 1401/MATH 1401 with a C- or higher, with ECON 1402/MATH 1402 permitted as a co-requisite. Credit for ECON 2101 precludes taking this course, and a grade of C- is required for ECON 2103, with a C+ needed to qualify for ECON 4021.