Fundamentals of Macroeconomics from edX

Are you interested in a serious and solid background in economics?

This course offers you a thorough view of everything economists know about markets: their strengths, their failures, and how this view can help you understand the most relevant economic problems. We follow a rigorous approach that combines visual arguments with realistic examplesto help you connect the main economic concepts with your own experiences.

The only required knowledge is certain familiarity with graph reading and basic high school mathematics.

By the end of this course, you will have explored thekey questions in macroeconomics:

Why some societies manage to coordinate and prosper in the long run and others don’t. Are developing countries doomed? What is postponing their prosperity?
Why even the most successful economies experience occasional crises that compromise the quality of life?
Why are there spikes in the unemployment or inflation that cause pain in our societies? What can we do about it?

What you'll learn

The GDP, its meaning, measurement,and components
The main indicators of the labor market and the nature of unemployment
Savings, investment,and the financial system
The monetary and the banking system
Central banks, monetary policies,and inflation
International trade, capital flows,and exchange rates
Economic fluctuations
Fiscal and monetary policies

What's inside

Learning objectives

The gdp, its meaning, measurement,and components
The main indicators of the labor market and the nature of unemployment
Savings, investment,and the financial system
The monetary and the banking system

Central banks, monetary policies,and inflation
International trade, capital flows,and exchange rates
Economic fluctuations
Fiscal and monetary policies

The gdp, its meaning, measurement,and components
The main indicators of the labor market and the nature of unemployment
Savings, investment,and the financial system
The monetary and the banking system
Central banks, monetary policies,and inflation
International trade, capital flows,and exchange rates
Economic fluctuations
Fiscal and monetary policies

Syllabus

Week 1: Introduction and Gross Domestic Product Macroeconomic aggregates and Gross Domestic Product. The value added and the return of productive factors. The components of GDP. Real and nominal GDP and the GDP deflator. The determinants of productivity in the long run.

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Develops concepts that are applicable to students' lives and work

Examines macroeconomic phenomena, which is relevant in various fields

Provides a comprehensive overview of macroeconomics

Teaches visual arguments, which can enhance understanding for some learners

Taught by experienced professors in economics

Reviews summary

Foundational macroeconomics for clear understanding

According to students, 'Fundamentals of Macroeconomics' provides a largely positive and rigorous introduction to key economic principles. Learners frequently commend the course for its clear explanations and the instructor's ability to present complex topics accessibly, making it ideal for those seeking a solid foundational understanding. While the course is comprehensive, some learners note the pace can be challenging for beginners, suggesting consistent engagement is key. The integration of realistic examples and a structured syllabus consistently helps solidify learning, making the lectures particularly effective.

Connects economic theory to real-world scenarios and current events.

"What stands out is the connection between theory and real-world scenarios. The examples of economic fluctuations... were excellent..."

"This isn't just theory; it helps you understand current events and how economic policies impact society."

"I found the realistic examples very helpful in connecting abstract economic concepts to everyday life."

Builds a strong foundational understanding of macroeconomics.

"This course provides a truly solid foundation in macroeconomics... I feel much more confident discussing economic news now."

"It really demystified macroeconomics for me, equipping me with a strong base to understand global economic issues."

"I gained a robust understanding of core macroeconomic aggregates and their implications from this well-structured program."

Complex economic concepts are explained with exceptional clarity.

"I really appreciated how the instructor broke down the GDP concepts. It was so clear and the visuals helped immensely."

"Coming in with no prior economics, I found this course incredibly accessible. The explanations of concepts like inflation and unemployment were straightforward..."

"The instructor has a knack for presenting complex topics accessibly, making previously intimidating concepts much easier to grasp."

Comprehensive but may require focus for those new to the subject.

"The pace was quite fast in some sections, especially around international trade. While the explanations were good, I sometimes felt I needed to pause..."

"For a complete beginner, some modules require dedicated effort and perhaps re-watching the lectures to fully absorb the material."

"I felt the amount of information covered per week was significant, so staying on top of the material was crucial."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Fundamentals of Macroeconomics with these activities:

Review 'Macroeconomics' by Olivier Blanchard

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This book provides a comprehensive overview of the key concepts in macroeconomics, which will be essential for understanding the course materials.

View Fiscal Policy under Low Interest Rates on Amazon

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Read the first three chapters of the book.
Take notes on the main concepts discussed in each chapter.
Complete the practice problems at the end of each chapter.

Organize your lecture notes and readings

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Staying organized will help you to keep track of the material and prepare for exams.

Browse courses on Note-Taking

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Create a system for organizing your lecture notes and readings.
Keep all of your materials in one place.
Review your materials regularly.

Follow an online tutorial on macroeconomic forecasting

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Following an online tutorial on macroeconomic forecasting will help you to learn about the different methods that are used to forecast the economy.

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Find an online tutorial on macroeconomic forecasting.
Follow the steps in the tutorial.
Apply the forecasting methods to a real-world dataset.

Four other activities

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Participate in a peer-led study group

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Participating in a peer-led study group will allow you to discuss the material with other students and learn from their perspectives.

Browse courses on Macroeconomics

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Find a study group that meets regularly.
Attend the study group meetings.
Participate in the discussions.

Solve macroeconomic practice problems

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Solving macroeconomic practice problems will help you to develop your problem-solving skills and deepen your understanding of the material.

Browse courses on Macroeconomics

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Find a set of macroeconomic practice problems.
Solve the problems using the concepts that you have learned in class.
Check your answers against the solutions.

Create a blog post on a macroeconomic topic

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Writing a blog post on a macroeconomic topic will help you to synthesize your understanding of the material and communicate it to others.

Browse courses on Macroeconomics

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Choose a topic that you are interested in and that you have a good understanding of.
Research the topic thoroughly.
Write a clear and concise blog post that explains the topic to a non-expert audience.

Develop a simple macroeconomic model

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Developing a simple macroeconomic model will help you to understand how the different components of the economy interact.

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Choose a specific economic issue that you want to model.
Identify the key variables that are involved in the issue.
Develop a set of equations that describe the relationships between the variables.
Use the model to make predictions about the economy.

Career center

Learners who complete Fundamentals of Macroeconomics will develop knowledge and skills that may be useful to these careers:

Economist

Economists study how the economy works and how it affects people and businesses. They use their knowledge to advise governments and businesses on economic policy and to help them make informed decisions.

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Professor

Professors teach and conduct research in economics at colleges and universities. They also advise students on their academic and career goals.

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Government Economist

Government economists provide economic advice to governments at the local, state, and federal levels. They may work on a variety of issues, such as fiscal policy, monetary policy, and international trade.

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Quantitative Analyst

Quantitative analysts use mathematical and statistical methods to model and analyze financial data. They use this information to make recommendations to investors about which stocks and bonds to buy or sell.

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Financial Analyst

Financial analysts research and analyze financial data to make recommendations to investors about which stocks and bonds to buy or sell.

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Research Analyst

Research analysts conduct research on companies and industries to make recommendations to investors about which stocks and bonds to buy or sell.

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Policy Analyst

Policy analysts research and analyze public policies to make recommendations to policymakers. They may work on a variety of issues, such as education, healthcare, and environmental policy.

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Trader

Traders buy and sell stocks, bonds, and other financial instruments for their own account or for the account of their clients. They use their knowledge of economics and finance to make informed decisions about when to buy and sell.

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Actuary

Actuaries use mathematical and statistical methods to assess risk and uncertainty. They use this knowledge to design insurance policies and other financial products that help people protect themselves from financial losses. They must stay up-to-date with the latest economic data and trends in order to develop accurate models and make sound recommendations to their clients.

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Risk Manager

Risk managers identify, assess, and mitigate risks that could affect a company's financial performance. They use their knowledge of economics and finance to develop strategies to minimize risk and protect the company's assets.

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Consultant

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Investment Banker

Investment bankers help companies raise capital by issuing and selling stocks and bonds. They also advise companies on mergers and acquisitions.

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Statistician

Statisticians collect, analyze, and interpret data to provide insights into a variety of topics, such as economic trends, consumer behavior, and public health.

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Market Researcher

Market researchers conduct research to understand the needs and wants of consumers. They use this information to help businesses develop and market products and services that meet the needs of their target market. Understanding the economy and how it affects consumer behavior is essential for success in this role.

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Business Analyst

Business Analysts help organizations improve their performance by analyzing their business processes and systems, and recommending changes to improve efficiency and effectiveness.

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