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Macroeconomics
ECON101 | 3 Credits
Macroeconomics will teach you to analyze the performance of the national economy and its links to the global economy. On top of that, you’ll examine aspects of the economy from an aggregate perspective and learn the basic tools used by economists to understand economic trends.
Professor: Marlo Chavarria
About Macroeconomics
What You’ll Learn
Macroeconomics analyzes the performance of the national economy and its links to the global economy, in addition to examining aspects of the economy from an aggregate perspective.
- Define basic economic terminology and concepts, including the effects of scarcity and choices, and the role of rational self-interest.
- Explain the concepts of specialization, absolute advantage, and comparative advantage.
- Analyze the key macroeconomic indicators used to measure the performance of the aggregate economy, including output, price level, and employment.
- Utilize the aggregate demand and aggregate supply model to explain the amount of goods/services produced, the level of unemployment, and the price level.
- Define and analyze the cause and effect of inflation, including the concepts of demand-pull and cost-push inflation, anticipated and unanticipated inflation, and the meaning and effects of hyperinflation.
- Define money, banking, and monetary policy and explain their impact on the macroeconomy.
- Define fiscal policy, budget deficits, and the national debt, and explain their impact on the macroeconomy.
- Explain monetary policies of the U.S. financial system, including the nature and functions of money and money supply; the features and functions of the Federal Reserve System; and the tools used by the Federal Reserve to control the money supply.
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WANT US TO CHECK?Course Details
Macroeconomics provides a comprehensive overview of the American economic system, exploring private enterprise, the role of government, and core principles of modern economics. Students will examine aggregate equilibrium (supply and demand), national income measurement and theory (inflation rate, unemployment rate, economic growth, and other measures of economic health), fiscal and monetary policy, the monetary and banking system, and issues of economic instability, gaining a foundational understanding of the forces shaping economic outcomes and policy decisions.
ACE-Recommended
ACE Code:
OOSL-0007
Flexible Schedule
36-day Average Course Completion
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Prerequisites
There are no prerequisites to take Macroeconomics.
Course Text
The required eTextbook for this course is included with your course purchase at no additional cost.
- Frank, Robert H., Ben S. Bernanke, Kate Antonovics, and Ori Heffetz. Principles of Macroeconomics. 2024 Release, McGraw-Hill, 2024. ISBN: 9781265471644
Course Checkpoints
Economic Thinking
- Scarcity
- Opportunity Cost
- Economic Models
Comparative Advantage
- Comparative Advantage
- Production Possibilities Curve
- Gains from Trade
- Specialization and Shifts in PPC
Macroeconomics–Bird’s Eye View of the Economy
- Major Macroeconomic Issues
- Macroeconomic Policy
- Aggregation
Measuring Economic Activity
- Measuring Economic Output
- Expenditure Method - GDP Estimation
- Income Method - GDP Estimation
- Circular Flow Economy
- Real and Nominal GDP
Measuring The Price Level and Inflation
- Consumer Price Index
- Inflation
- CPI Substitution Bias
- Hyperinflation
- Inflation and Real Interest Rates
The Labor Market, Workers, Wages, and Unemployment
- Money
- Bank Reserves
- Money Creation
- US Federal Reserve Board
- Stabilizing Financial Markets
- Money Velocity
Financial Markets and International Capital Flows
- Savings and Investment
- Banking System
- Bond Market
- Stock and Bond Markets
- International Capital Flows
Short-Term Economic Fluctuations: An Introduction
- Recessions and Expansions
- Business Cycle
- Potential Output and Output Gaps
- Natural Rate of Unemployment
- Short-Term Fluctuations
Stabilizing the Economy: The Role of the Fed
- FED and Interest Rates
- Demand for Money
- Supply of Money
- FED Controls the Nominal Interest Rates
- Monetary Policy
- FED Fights Inflation
Aggregate Demand, Aggregate Supply, and Inflation
- Aggregate Demand Curve
- Inflation and Aggregate Supply
- The Aggregate Demand-Aggregate Supply Diagram
- Self-Correcting Economy
Assignments & Grading
Your score provides a percentage score and letter grade for each course. A passing percentage is 70% or higher.
Assignments for this course include:
- 11 Knowledge Checks
- 1 Assignment Paper
- 1 Presentation
- 1 Midterm Exam
- 1 Final Exam
This course has an open book proctored Final Exam. Scientific and/or graphing calculators are allowed throughout the course.
What You’ll Need
- A reliable computer or laptop
- Stable internet connection
- Web browser
- Basic computer skills
- Scientific or graphic calculator
- Any required course materials
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Course Professor
Marlo Chavarria
M.A.
Marlo Chavarria (Master’s in Economics, University of South Florida) is a transportation economist. For the past 21 years, he has honed his expertise in the transportation industry, focusing on infrastructure financing and economic impact analysis. Chavarria has also served as an online educator, instructing undergraduate economics courses for the last 16 years.
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Real, human feedback to help you ace your assignments
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Professional development assistance
Resume-building resources
Professional development assistance
Faculty Connect portal
Resume-building resources
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Macroeconomics & Your Career in Business
Studying business opens the door to career opportunities in every industry. Macroeconomics helps you understand the big picture—how economies function at a national and global level. With this course, you'll demonstrate to employers that you can make sense of economic indicators and think critically about trends that influence markets and business strategy.
Why it matters:
- Nearly 1 in 4 employed professionals with a university degree studied business.
- For students looking for a flexible and practical degree, business is a versatile choice.
How this course sets you up for success:
Financial Analyst, Management Consultant, Marketing Manager, Human Resources Specialist, Account Manager, Business Intelligence Analyst, Operations Manager, Investment Analyst, Risk Manager, Supply Chain Coordinator
How this course sets you up for success:
Gain a strong foundation in how national and global economies operate — skills that are highly valued in economic research, government policy, international business, finance, and strategic planning.
Course included in Semester & Annual Plans
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