Unemployment and Inflation

Course Description

Summary

This introductory course on macroeconomic theory and applications will examine the nature and causes of inflation and unemployment. We will study how macroeconomic theory can help us understand these two economic phenomena of global concern and why it is so difficult for policy makers to address the two problems simultaneously. Additionally, we will examine the implications of these twin problems for other critical universal issues such as poverty, inequality and vulnerability.

The use of macroeconomic data to provide evidential support to our arguments will be a key feature of this course. For this, a grasp of high- school algebra and geometry are required, and some familiarity with spreadsheet analyses of data is expected. No prior knowledge of economics is necessary to take this course. We will explore the basic ideas in the course verbally and through written expositions and use graphs and mathematical formulations to express the key concepts in formal terms.

This course is designed for students in their first and second years of college. It invites you to expand your knowledge through active, self-determined investigation, and, to work with each other in a spirit of reciprocity and mutual- caring. You are encouraged to explore the subject matter of the course from a transdisciplinary perspective.