10126 Introduction to Macroeconomics 1

Credits: 4 introductory credits in Economics

Prerequisites: none 2

Authors: Arie Nachmias, Jacob Rosenberg, Galia Ofer

The course provides the student with the basic concepts of macroeconomic theory. It deals with national accounting and with the analysis of the national product and its uses. The first part of the course presents the economy as a closed system. The macroeconomic discussion in the second part takes into consideration global relationships and analyzes economic activity which goes beyond the boundaries of the single national economy the open market.

Topics: Introduction the field and its basic concepts; National accounting; Components of aggregate demand; Equilibrium in the product market; Money in the economy and the banking system; The money market; Combined equilibrium the product market and the money market. The balance of payments and the foreign currency market; Open economy; Inflation.

1Students who wish to take both introductory courses in economics are advised to take Introduction to Microeconomics (10131) before Introduction to Macroeconomics (10126).

2To successfully complete this course, students need at least 3-point level knowledge of high school mathematics. Students who do not have this background are advised to take the Mathematics Refresher Workshop for Social Science Students (95001) before taking this course.