Introduction to Macroeconomics Study + Internship in London: CEA London Center - OLD Program Spring 2017 Semester

The first part of the course is concerned with explaining how national output and the level of employment are determined in an open economy and how the equilibrium output is affected by changes in aggregate demand. Next, the course seeks to explain the role played by the banking sector in the determination of the supply of money, the role played by interest rates in the attainment of monetary equilibrium and the effects of the activities of the central bank in ensuring financial stability and influencing aggregate demand. The third part of the course examines the role played by monetary and fiscal policy in achieving the major objectives of economic policy (both internal and external balance). Finally, the course examines the role played by the foreign sector in the economy (including trade, the balance of payments and the exchange rate) and compares alternative exchange rate regimes in the world (fixed and floating exchange rates) including monetary union.