Principles of Macroeconomics

The course will cover - via theory and basic economic reasoning, as well as contemporary applications and public policy debates - current major U.S. domestic and international macroeconomics issues, including: the determination of income and output, inflation, and unemployment; the money supply, banking system, and the Federal Reserve; federal spending, taxation and deficits; international trade, exchange rates, the balance of payments and globalization; and long-run population and economic growth. Special attention will be paid to the contributions of Chicago economists/economics to our understanding of macroeconomic principles and public policy.