Macroeconomic Foundations and National Income

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Macroeconomic Foundations and National Income

This course is part of Macroeconomics in a Global Context Specialization

Instructor: Macmillan Learning

Included with Learn more

4 modules

Gain insight into a topic and learn the fundamentals.

Beginner level

No prior experience required

7 hours to complete

Flexible schedule

Learn at your own pace

4 modules

Gain insight into a topic and learn the fundamentals.

Beginner level

No prior experience required

7 hours to complete

Flexible schedule

Learn at your own pace

Skills you'll gain

Details to know

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This course is part of the Macroeconomics in a Global Context Specialization

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There are 4 modules in this course

Build a foundation in macroeconomics by learning how economists measure economic activity and explain national income. Drawing on content from N. Gregory Mankiw, author of Macroeconomics, published by Macmillan Learning, this introductory course connects quantitative tools with the core questions and models of macroeconomic analysis.

You will review mathematical and graphing concepts, including percentages, ratios, linear equations, slopes, and marginal analysis. You will also distinguish correlation from causation and learn how economic data provide a basis for models. You will examine GDP, the consumer price index, and unemployment as measures of economic conditions. You will then investigate what determines production, how national income is distributed, and how demand and supply for goods and services reach equilibrium. Through readings and practice problems, you will interpret economic measures and apply foundational reasoning to production and spending. This course is part of the Macroeconomics in a Global Context Specialization and can also be taken independently.

This module introduces the field of macroeconomics and the questions macroeconomists study. You will examine how economists think and how macroeconomic analysis is organized. The module also establishes how the book proceeds through the study of macroeconomics.

What's included

3 readings3 assignments

This module focuses on the major data used to describe macroeconomic conditions. You will examine gross domestic product as a measure of economic activity, the consumer price index as a measure of the cost of living, and the unemployment rate as a measure of joblessness. You will also consider how economic statistics connect to macroeconomic models.

What's included

5 readings4 assignments

5 readingsTotal 40 minutes

Measuring the Value of Economic Activity: Gross Domestic Product20 minutes
Measuring the Cost of Living: The Consumer Price Index9 minutes
Measuring Joblessness: The Unemployment Rate5 minutes
Conclusion: From Statistics to Models1 minute
Case Study: GDP and Its Components5 minutes

4 assignmentsTotal 80 minutes

Measuring the Value of Economic Activity: Gross Domestic Product Practice Assignment20 minutes
Measuring the Cost of Living: The Consumer Price Index Practice Assignment20 minutes
Measuring Joblessness: The Unemployment Rate Practice Assignment20 minutes
The Data of Macroeconomics Graded Assignment20 minutes

This module examines how an economy produces goods and services and distributes national income. You will consider what determines total production and how income is distributed among the factors of production. The module also addresses the growing gap between rich and poor.

What's included

5 readings4 assignments

5 readingsTotal 43 minutes

What Determines the Total Production of Goods and Services?3 minutes
How Is National Income Distributed to the Factors of Production?18 minutes
The Growing Gap Between Rich and Poor11 minutes
Conclusion1 minute
Case Study: Labor Productivity as the Key Determinant of Real Wages10 minutes

4 assignmentsTotal 80 minutes

What Determines the Total Production of Goods and Services? Practice Assignment20 minutes
How Is National Income Distributed to the Factors of Production? Practice Assignment20 minutes
The Growing Gap Between Rich and Poor Practice Assignment20 minutes
National Income: How It Is Earned Graded Assignment20 minutes

This module shifts from how national income is earned to how it is spent. You will examine the determinants of demand for goods and services and the forces that bring supply and demand into equilibrium. By the end of the module, you will be able to describe the basic relationships connecting spending decisions with equilibrium in the goods and services market.

What's included

3 readings3 assignments

3 readingsTotal 23 minutes

What Determines the Demand for Goods and Services?7 minutes
What Brings the Supply and Demand for Goods and Services into Equilibrium?13 minutes
Conclusion3 minutes

3 assignmentsTotal 60 minutes

What Determines the Demand for Goods and Services? Practice Assignment20 minutes
What Brings the Supply and Demand for Goods and Services into Equilibrium? Practice Assignment20 minutes
National Income: How It Is Spent Graded Assignment20 minutes

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Instructor

Macmillan Learning

36 Courses1,009 learners

Offered by

Macmillan Learning

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