Macroeconomic (PSPC Students)
⦁ How to Organize Economies: An Overview of Economic Systems, Useful Tools and Concepts, the Four Essential Economic Activities, Choice in a World of Scarcity
⦁ Supply and Demand: Markets and Macroeconomics, the Theory of Supply, Demand and Market Adjustments, Equilibrium, the Four-Step Process
⦁ Measuring the Size of the Economy: Gross Domestic Product, How Well GDP measures the Well-Being of Society, Comparing GDP among Countries, Measuring Household Production, Measuring Economic Well-Being, Understanding Aggregate Behaviour.
⦁ Employment and Unemployment: Measuring Employment and Unemployment, Various of Theories of Unemployment, Patterns of Unemployment, what Causes Changes in Unemployment Over the Short-Term Run or Over the Long-Term Run?
⦁ Aggregate Demand and Economic Fluctuations: The Business Cycle, Aggregate Demand, the Keynesian Model, Inflation, the Confusion over Inflation.
⦁ Fiscal Policy: The Role of Government Spending and Taxes, Budgets, Deficits, and Policy Issues, Using Fiscal Policy to Fight Recession, the Question of Balanced Budgets.
⦁ Monetary Policy: The theory of Money, Prices, Inflation, Deflation, Stagnation, Currency Devaluation, Complications with Monetary Policy and Controversies, the role of Banks and the Central Bank, How Banks create Money, How Central Banks Execute Monetary Policy.
⦁ The Aggregate Demand / Aggregate Supply Model and Inflation. Inflation and Aggregate Demand Equilibrium, Shifts in Aggregate Demand, Shifts in Aggregate Supply, How the AD/AS Model incorporates Growth, Unemployment, and Inflation.
⦁ Varying Perspectives: the Keynesian Perspective, the Neoclassical Perspective, the Traditional Economics Perspective, Friedrich Hayek and the Austrian School of Economics, Say’s Law.
⦁ Behavioural Economics: The Nature of Behavioural Economics as a Discipline, Core principles, Decision making by Human Agents, Values, Preferences, Choice, Belief, Heuristics and Biases, Behavioural Game Theory,
⦁ Complexity Economics: Introduction to the Theory of Complexity Economics, Nonlinear Economics, Feedback Loops, Non-Equilibrium Patterns, Network Theory, Complex Adaptive Systems Theory, Fitness Landscape, Why Does Economics Need this Different Approach? Can Complexity Economics Save the World?