My goal is to create the world’s best Macroeconomics course. We won’t be there right away but I think you’ll enjoy the first run of this course. Here’s who will benefit:

-The course will be primarily focused on preparing students for the CLEP exam. Passing the CLEP exam will allow you to receive equivalent college credit at over 2,900 colleges and universities.

-The course will also benefit students enrolled in a Macroeconomics course at a college or university and looking to solidify their knowledge.

-Finally, the course will be very interesting to those who have a general curiosity for Macroeconomics, regardless of whether you are currently seeking a degree or college credit.

This class will be five weeks long with one session per week. Each session will be approximately three hours in length consisting of two 80 minute segments with a 20 minute break in-between. There will be homework between class sessions which all students will be expected to do.

In addition to the live lectures we will be providing you with a curated list of free web resources that you will be using to supplement your studies on eduFire. In addition to learning from me you’ll be learning from some of the best economic minds in the world include professors at Ivy League schools. The combination of live lectures and on-demand access to a “best of the best” slate of instructors is what we feel will provide you with a world-class learning experience.

While this course is not free, passing the Macroeconomics CLEP exam will give you an opportunity to earn approximately 3 credits at colleges and universities that accept CLEP. This would typically cost anywhere from $500-$2,500 depending on the school. The total cost of this course on eduFire + sitting the CLEP exam will be under $200.

If you have any questions about this course please feel free to send me a message. I look forward to seeing you in class!

Week One

Basic Economic Concepts

• Scarcity, choice, and opportunity costs
• Production possibilities curve
• Comparative advantage, specialization, and exchange
• Demand, supply, and market equilibrium
• Macroeconomic issues: business cycle, unemployment, inflation, growth

Measurement of Economic Performance

• National income accounts
  o Circular flow
  o Gross domestic product
  o Components of gross domestic product
  o Real versus nominal gross domestic product
• Inflation measurement and adjustment
  o Price indices
  o Nominal and real values
  o Costs of inflation
• Unemployment
  o Definition and measurement
  o Types of unemployment
  o Natural rate of unemployment

Week Two

National Income and Price Determination

• Aggregate demand
  o Determinants of aggregate demand
  o Multiplier and crowding-out effects
• Aggregate supply
  o Short-run and long-run analyses
  o Sticky versus flexible wages and prices
  o Determinants of aggregate supply
• Macroeconomic equilibrium
  o Real output and price level
  o Short and long run
  o Actual versus full-employment output
  o Economic fluctuations

Week Three

Financial Sector

• Money, banking, and financial markets
  o Definition of financial assets: money, stocks, bonds
  o Time value of money (present and future value)
  o Measures of money supply
  o Banks and creation of money
  o Money demand
  o Money market
  o Loanable funds market
• Central bank and control of the money supply
  o Tools of central bank policy
  o Quantity theory of money
  o Real versus nominal interest rates

Week Four

Inflation, Unemployment, and Stabilization Policies

• Fiscal and monetary policies
  o Demand-side effects
  o Supply-side effects
  o Policy mix
  o Government deficits and debt
• Inflation and unemployment
  o Types of inflation
  o Demand-pull inflation
  o Cost-push inflation
  o The Phillips curve: short run versus long run
  o Role of expectations

Week Five

Economic Growth and Productivity

• Investment in human capital
• Investment in physical capital
• Research and development, and technological progress
• Growth policy

10-15%
Open Economy: International Trade and Finance

• Balance of payments accounts
  o Balance of trade
  o Current account
  o Capital account
• Foreign exchange market
  o Demand for and supply of foreign exchange
  o Exchange rate determination
  o Currency appreciation and depreciation
• Net exports and capital flows
• Links to financial and goods markets

There are no explicit prerequisites for this class. However, it is assumed that students registering for the class will have a high school level familiarity with mathematics and statistics and be prepared to take a rigorous college-level courses.

There will be expectations to purchase various study aids for this course. Every attempt will be made to keep additional costs to a minimum.

There will be an expectation that you will attend all five sessions of this course. Students not able and willing to attend all five sessions should not register.