Concordia University - ECON 203: Introduction to Macroeconomics

ECON 203: Introduction to Macroeconomics provides a comprehensive introduction to the principles of macroeconomics, focusing on the factors that drive national income, economic growth, and stability in both the short and long term. Main topics to be covered include the measurement of national income, short-run macroeconomic models, and the effects of government spending and trade. Students will explore real GDP and price level adjustments, the role of factor prices in shifting from short-run to long-run equilibrium, and the fundamentals of economic growth. Additionally, the course examines money and banking, the relationship between money supply and interest rates, and the mechanisms through which these influence economic activity. Key aspects of Canadian monetary policy, inflation and disinflation, unemployment fluctuations, and the determinants of government debt and deficits are also covered, along with the dynamics of exchange rates and the balance of payments.

By the end of this course, students will gain a solid understanding of modern macroeconomic principles, enabling them to analyze economic policy and its impacts. They will learn to interpret key economic indicators such as GDP, inflation, unemployment rates, and interest and exchange rates. Through this framework, students will be able to follow economic developments, understand fiscal and monetary policy decisions, and grasp the structure of the fractional reserve banking system. This knowledge will empower them to engage with economic policy debates, making them more informed citizens equipped to assess the health and direction of the broader economy.