The Power of Macroeconomics: Economic Principles in the Real World

University of California, Irvine

About this Course

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In this course, you will learn all of the major principles of macroeconomics normally taught in a quarter or semester course to college undergraduates or MBA students.   
Perhaps more importantly, you will also learn how to apply these principles to a wide variety of situations in both your personal and professional lives. In this way, the Power of Macroeconomics will help you prosper in an increasingly competitive and globalized environment.

This course is also available in Portuguese. To join the fully translated Portuguese version, visit this page: https://www.coursera.org/learn/macroeconomia-pt/

Learner Career Outcomes

22%

started a new career after completing these courses

31%

got a tangible career benefit from this course

31%

got a pay increase or promotion

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 16 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish

Instructor

Instructor rating

4.75/5 (178 Ratings)

Dr. Peter Navarro

Professor

Paul Merage School of Business

382,950 Learners

6 Courses

Learner Career Outcomes

22%

started a new career after completing these courses

31%

got a tangible career benefit from this course

31%

got a pay increase or promotion

Shareable Certificate

Earn a Certificate upon completion

100% online

Start instantly and learn at your own schedule.

Flexible deadlines

Reset deadlines in accordance to your schedule.

Approx. 16 hours to complete

English

Subtitles: Arabic, French, Portuguese (European), Chinese (Simplified), Italian, Vietnamese, Korean, German, Russian, Turkish, English, Spanish

Offered by

University of California, Irvine

Since 1965, the University of California, Irvine has combined the strengths of a major research university with the bounty of an incomparable Southern California location. UCI’s unyielding commitment to rigorous academics, cutting-edge research, and leadership and character development makes the campus a driving force for innovation and discovery that serves our local, national and global communities in many ways.

Syllabus - What you will learn from this course

Content Rating95%(13,129 ratings)

Week

Week 1

1 hour to complete

Welcome

1 hour to complete

1 video (Total 9 min), 1 reading, 1 quiz

1 video

An Overview of Modern Macroeconomics 9m

1 reading

Syllabus10m

1 practice exercise

Check Your Economics Knowledge (Ungraded)30m

Week

Week 2

1 hour to complete

An Overview of Modern Macroeconomics

1 hour to complete

5 videos (Total 33 min), 1 reading, 1 quiz

5 videos

The Big Four Macroeconomic Issues 9m

Major Macroeconomic Policy Tools 4m

The Major Schools of Macroeconomics4m

Demand-Pull Inflation Versus Cost-Push Inflation, The Keynesian Dilemma & Rise of Monetarism 6m

From Supply Side Economics and The New Classicals Back to Keynesianism 7m

1 reading

Module Overview10m

1 practice exercise

An Overview of Modern Macroeconomics 30m

Week

Week 3

1 hour to complete

The Aggregate Supply-Aggregate Demand Model and the Classical-Keynesian Debate

1 hour to complete

6 videos (Total 35 min), 1 reading, 1 quiz

6 videos

Keynesian Economics is Born7m

The Two Pillars of Classical Economics 6m

Why Classical Economics Failed 2m

The AS-AD Framework 4m

Why the AS and AD Curves Shift 7m

Three Ranges of the Economy 7m

1 reading

Module Overview10m

1 practice exercise

The Aggregate Supply-Aggregate Demand Model and the Classical-Keynesian Debate30m

Week

Week 4

1 hour to complete

The Keynesian Model and Fiscal Policy

1 hour to complete

5 videos (Total 42 min), 1 reading, 1 quiz

5 videos

Introduction to the Keynesian Model 7m

Analysis of the Keynesian Model 7m

The Keynesian Expenditures Functions 7m

The Keynesian Multiplier and Closing Recessionary or Inflationary Gaps11m

Strengths and Weakness of the Keynesian Model 8m

1 reading

Module Overview10m

1 practice exercise

The Keynesian Model and Fiscal Policy30m

Week

Week 5

1 hour to complete

The Federal Reserve and Monetary Policy

1 hour to complete

7 videos (Total 41 min), 1 reading, 1 quiz

7 videos

The Federal Reserve and Monetary Policy 3m

All About Money 3m

All About Interest Rates 3m

Determinants of Money Demand 3m

How Paper Money is Created and the Money Multiplier 8m

An Example of a Central Bank- The U.S. Federal Reserve 9m

Monetary Versus Fiscal Policy9m

1 reading

Module Overview10m

1 practice exercise

The Federal Reserve and Monetary Policy30m

Week

Week 6

1 hour to complete

Unemployment, Inflation, and Stagflation

1 hour to complete

8 videos (Total 44 min), 1 reading, 1 quiz

8 videos

Some Basic Unemployment Concepts 4m

Unemployment Defined and Measured 4m

Okun's Law 3m

Demand-Pull Versus Cost-Push Inflation and the Keynesian Dilemma6m

Inflation, Inflationary Expectations, and the Phillips Curve 9m

The Natural Rate of Unemployment and Inflationary Spirals 5m

Monetarist Versus Keynesian Cures for Inflation4m

Supply Side Economics and the "Laffer Curve" 5m

1 reading

Module Overview10m

1 practice exercise

Unemployment, Inflation, and Stagflation 30m

Week

Week 7

1 hour to complete

The Warring Schools of Macroeconomics

1 hour to complete

7 videos (Total 41 min), 1 reading, 1 quiz

7 videos

A "Mid-Course" Appraisal by Prof Navarro 1m

New Classical Economics and Rational Versus Adaptive Expectations 7m

The Great Recession of 2007 and Quantitative Easing 4m

How to Forecast the Business Cycles and Structural Trade Imbalances7m

What Causes Macroeconomic Instability and is the Economy "Self-Correcting"? 7m

Rules Versus Discretion 4m

A Balanced Budget Rule, Crowding Out, and Where the Warring Schools Converge 7m

1 reading

Module Overview10m

1 practice exercise

The Warring Schools of Macroeconomics30m

Week

Week 8

1 hour to complete

Economic Growth and Productivity

1 hour to complete

5 videos (Total 33 min), 1 reading, 1 quiz

5 videos

Overview of the Four Wheels of Growth 3m

The Four Wheels of Growth in Detail8m

The Growth Models of Adam Smith and Thomas Malthus 6m

Solow's Neoclassical Growth Model8m

The Pros and Cons of Growth and How to Stimulate Growth 5m

1 reading

Module Overview10m

1 practice exercise

Economic Growth and Productivity30m

Week

Week 9

1 hour to complete

Budget Deficits and the Public Debt

1 hour to complete

6 videos (Total 38 min), 1 reading, 1 quiz

6 videos

Budget Deficits and the Public Debt Defined 3m

The Debt-to-GDP Ratio, Real Versus Nominal Deficit, Structural Versus Cyclical Deficit 6m

Calculating the Structural and Cyclical Parts of the Budget Deficit 8m

Financing Budget Deficits and Associated Problems; The Balanced Budget Multiplier 8m

Budget Deficit Pros and Cons 6m

Impacts of Budget Deficits and Debt on Investment and Productivity?4m

1 reading

Module Overview10m

1 practice exercise

Budget Deficits and the Public Debt30m

Week

Week 10

1 hour to complete

International Trade and Protectionism

1 hour to complete

5 videos (Total 29 min), 1 reading, 1 quiz

5 videos

Absolute Versus Comparative Advantage 4m

The Nuts and Bolts of Comparative Advantage and the Gains from Trade 6m

Tariff, Quotas, Trade Barriers, Protectionism, and the Dead Weight Loss8m

The Pros and Cons of Protectionism 5m

The Limitations of Ricardian Free Trade in the Real World and the Case of China3m

1 reading

Module Overview10m

1 practice exercise

International Trade and Protectionism30m

Week

Week 11

1 hour to complete

Exchange Rates, The Balance of Payments, and Trade Deficits

1 hour to complete

8 videos (Total 43 min), 1 reading, 1 quiz

8 videos

Are Trade Deficits a Problem? 3m

Some Balance of Payments Accounting 5m

Exchange Rates Defined and Why They Move 7m

Floating Versus Fixed Echange Rates, the Gold Standard, and Hume's Gold Specie Flow Adjustment Mechanism 6m

The Dollar Standard and Its Collapse 3m

Today's Hybrid Exchange Rate System, Currency Blocs, and Fixed Pegs3m

How Chronic Trade Deficits Can Persist, the Multiplier Link and Global Coordination of Fiscal and Monetary Policies 8m

The European Monetary System, Germany as a Case Study, and the Benefits of Policy Coordination 4m

1 reading

Module Overview10m

1 practice exercise

Exchange Rates, The Balance of Payments, and Trade Deficits30m

Week

Week 12

1 hour to complete

The Economics of Developing Countries

1 hour to complete

5 videos (Total 28 min), 1 reading, 1 quiz

5 videos

The Four Elements of Development 6m

Human Resources, Natural Resources, and Land Ownership Patterns 3m

The Importance of Capital Formation and Technological Change3m

Why Some Countries Prosper, the Cycle of Poverty, and Nine Policies to Promote Growth11m

Closing Remarks3m

1 reading

Module Overview10m

1 practice exercise

The Economics of Developing Countries30m

Week

Week 13

1 hour to complete

Final Exam

1 hour to complete

1 reading

1 reading

Learning Resources10m

1 practice exercise

Final Exam30m

Frequently Asked Questions

When will I have access to the lectures and assignments?
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The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
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When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
Is financial aid available?
Yes, Coursera provides financial aid to learners who cannot afford the fee. Apply for it by clicking on the Financial Aid link beneath the "Enroll" button on the left. You’ll be prompted to complete an application and will be notified if you are approved. Learn more.
Will I earn university credit for completing the Course?
This Course doesn't carry university credit, but some universities may choose to accept Course Certificates for credit. Check with your institution to learn more. Online Degrees and Mastertrack™ Certificates on Coursera provide the opportunity to earn university credit.

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The Power of Macroeconomics: Economic Principles in the Real World