The Power of Macroeconomics: Economic Principles in the Real World

About this course: 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/

Created by:  University of California, Irvine

• Taught by:  Dr. Peter Navarro, Professor

  Paul Merage School of Business

Commitment 13 hours of videos and quizzes Language English, Subtitles: Spanish, Chinese (Simplified) How To Pass Pass all graded assignments to complete the course. User Ratings 4.6 stars Average User Rating 4.6See what learners said Coursework

Each course is like an interactive textbook, featuring pre-recorded videos, quizzes and projects.

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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


WEEK 1


Welcome



1 video, 1 reading, 1 practice quiz expand

1. Reading: Syllabus
2. Practice Quiz: Check Your Economics Knowledge (Ungraded)
3. Video: An Overview of Modern Macroeconomics

WEEK 2


An Overview of Modern Macroeconomics



5 videos, 1 reading expand

1. Reading: Module Overview
2. Video: The Big Four Macroeconomic Issues
3. Video: Major Macroeconomic Policy Tools
4. Video: The Major Schools of Macroeconomics
5. Video: Demand-Pull Inflation Versus Cost-Push Inflation, The Keynesian Dilemma & Rise of Monetarism
6. Video: From Supply Side Economics and The New Classicals Back to Keynesianism

Graded: An Overview of Modern Macroeconomics

WEEK 3


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



6 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Keynesian Economics is Born
3. Video: The Two Pillars of Classical Economics
4. Video: Why Classical Economics Failed
5. Video: The AS-AD Framework
6. Video: Why the AS and AD Curves Shift
7. Video: Three Ranges of the Economy

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

WEEK 4


The Keynesian Model and Fiscal Policy



5 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Introduction to the Keynesian Model
3. Video: Analysis of the Keynesian Model
4. Video: The Keynesian Expenditures Functions
5. Video: The Keynesian Multiplier and Closing Recessionary or Inflationary Gaps
6. Video: Strengths and Weakness of the Keynesian Model

Graded: The Keynesian Model and Fiscal Policy

WEEK 5


The Federal Reserve and Monetary Policy



7 videos, 1 reading expand

1. Reading: Module Overview
2. Video: The Federal Reserve and Monetary Policy
3. Video: All About Money
4. Video: All About Interest Rates
5. Video: Determinants of Money Demand
6. Video: How Paper Money is Created and the Money Multiplier
7. Video: An Example of a Central Bank- The U.S. Federal Reserve
8. Video: Monetary Versus Fiscal Policy

Graded: The Federal Reserve and Monetary Policy

WEEK 6


Unemployment, Inflation, and Stagflation



8 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Some Basic Unemployment Concepts
3. Video: Unemployment Defined and Measured
4. Video: Okun's Law
5. Video: Demand-Pull Versus Cost-Push Inflation and the Keynesian Dilemma
6. Video: Inflation, Inflationary Expectations, and the Phillips Curve
7. Video: The Natural Rate of Unemployment and Inflationary Spirals
8. Video: Monetarist Versus Keynesian Cures for Inflation
9. Video: Supply Side Economics and the "Laffer Curve"

Graded: Unemployment, Inflation, and Stagflation

WEEK 7


The Warring Schools of Macroeconomics



7 videos, 1 reading expand

1. Reading: Module Overview
2. Video: A "Mid-Course" Appraisal by Prof Navarro
3. Video: New Classical Economics and Rational Versus Adaptive Expectations
4. Video: The Great Recession of 2007 and Quantitative Easing
5. Video: How to Forecast the Business Cycles and Structural Trade Imbalances
6. Video: What Causes Macroeconomic Instability and is the Economy "Self-Correcting"?
7. Video: Rules Versus Discretion
8. Video: A Balanced Budget Rule, Crowding Out, and Where the Warring Schools Converge

Graded: The Warring Schools of Macroeconomics

WEEK 8


Economic Growth and Productivity



5 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Overview of the Four Wheels of Growth
3. Video: The Four Wheels of Growth in Detail
4. Video: The Growth Models of Adam Smith and Thomas Malthus
5. Video: Solow's Neoclassical Growth Model
6. Video: The Pros and Cons of Growth and How to Stimulate Growth

Graded: Economic Growth and Productivity

WEEK 9


Budget Deficits and the Public Debt



6 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Budget Deficits and the Public Debt Defined
3. Video: The Debt-to-GDP Ratio, Real Versus Nominal Deficit, Structural Versus Cyclical Deficit
4. Video: Calculating the Structural and Cyclical Parts of the Budget Deficit
5. Video: Financing Budget Deficits and Associated Problems; The Balanced Budget Multiplier
6. Video: Budget Deficit Pros and Cons
7. Video: Impacts of Budget Deficits and Debt on Investment and Productivity?

Graded: Budget Deficits and the Public Debt

WEEK 10


International Trade and Protectionism



5 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Absolute Versus Comparative Advantage
3. Video: The Nuts and Bolts of Comparative Advantage and the Gains from Trade
4. Video: Tariff, Quotas, Trade Barriers, Protectionism, and the Dead Weight Loss
5. Video: The Pros and Cons of Protectionism
6. Video: The Limitations of Ricardian Free Trade in the Real World and the Case of China

Graded: International Trade and Protectionism

WEEK 11


Exchange Rates, The Balance of Payments, and Trade Deficits



8 videos, 1 reading expand

1. Reading: Module Overview
2. Video: Are Trade Deficits a Problem?
3. Video: Some Balance of Payments Accounting
4. Video: Exchange Rates Defined and Why They Move
5. Video: Floating Versus Fixed Echange Rates, the Gold Standard, and Hume's Gold Specie Flow Adjustment Mechanism
6. Video: The Dollar Standard and Its Collapse
7. Video: Today's Hybrid Exchange Rate System, Currency Blocs, and Fixed Pegs
8. Video: How Chronic Trade Deficits Can Persist, the Multiplier Link and Global Coordination of Fiscal and Monetary Policies
9. Video: The European Monetary System, Germany as a Case Study, and the Benefits of Policy Coordination

Graded: Exchange Rates, The Balance of Payments, and Trade Deficits

WEEK 12


The Economics of Developing Countries



5 videos, 1 reading expand

1. Reading: Module Overview
2. Video: The Four Elements of Development
3. Video: Human Resources, Natural Resources, and Land Ownership Patterns
4. Video: The Importance of Capital Formation and Technological Change
5. Video: Why Some Countries Prosper, the Cycle of Poverty, and Nine Policies to Promote Growth
6. Video: Closing Remarks

Graded: The Economics of Developing Countries

WEEK 13


Final Exam



1 reading expand

1. Reading: Learning Resources

Graded: Final Exam