Topic 1: Introduction & Review of Supply, Demand and Market Equilibrium

• Introduction to Macroeconomics: Terminology, US Economy, World Economy
• Supply and Demand related to Macroeconomics

Readings: Mankiw Chapters 1 and 4

Topic 2: The Data of Macroeconomics

• Measuring a country’s income: GDP
• Productivity and Growth: Determinants of productivity and economic growth
• Measuring the cost of living: Consumer Price Index; Calculating inflation
• Unemployment: Labor markets; Minimum-wage laws; Efficiency wages

Readings: Mankiw Chapters 10, 11, 12 and 15

Topic 3: Financial Markets, Banking System, and the Monetary System

• Savings, Investment, and the Financial System
• Tools in Finance: Managing Risk; Asset Valuation; Time value of money
• The Monetary System: Meaning of money, the Federal Reserve,
• Banks and Money Supply: Money creation
• Money Growth and Inflation: Money supply and demand and inflation

Readings: Mankiw Chapters 13, 14, 16 and 17

Topic 4: Aggregate Supply, Aggregate Demand, and Equilibrium GDP

• Aggregate Demand and Supply Model
• Monetary and Fiscal Policy and Aggregate Demand
• The Phillips Curve and costs of reducing inflation

Readings: Mankiw Chapters 20, 21 and 22