University of Guelph - ECON*1100: Introductory Macroeconomics

Course Overview:

This course looks at the Canadian Economy in terms of aggregate performance and policy; analysis of the determinants of national income, employment and the price level, and the role of government monetary and fiscal policies in improving the rate of economic growth.

Course Structure:

• Introduction to Macroeconomics: How Markets Work
• Macroeconomic Indicators and their Measurement
• Economic Growth
• The Economy in the Short Run
• Monetary and Fiscal Policy
• Macroeconomics in an Open Economy

Key Areas of Focus:

• Recognize macroeconomic concepts including GDP, price indices, growth, exchange rates, interest rates, money multipliers, expenditure multipliers, balance of payments, budget balances, trade balances and productivity measures;
• Measure economic activity including inflation, GDP, unemployment, savings, and balance of payments;
• Interpret expansionary and inflationary gaps, economic booms and recessions, and distinguish between short-run and long run macroeconomic outcomes;
• Analyze and interpret economic models such as the foreign exchange market model, the loanable funds market model, the aggregate expenditure model, and the AD/AS model;
• Analyze financial markets including the foreign exchange market, the money market, and the bond market;
• Explain and give examples of monetary, fiscal, and exchange rate policy;
• Justify an opinion on the role of government with respect to the values of Canadian macroeconomic indicators; and
• Interpret Canadian economic performance in a historical and global context.