This is the second part of a one-year introductory course to economics. The core content of this semester will focus on macroeconomics. Macroeconomics, according to Professor Mankiw, looks at the economy as a whole. This course will examine the economy in the long run (when prices are flexible) before examining the economy in the short run. The ultimate goals are to study economy-wide phenomena, including output, inflation, unemployment, and economic growth; and to equip students with tools to examine policy issues related to those important economic variables.
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