Global Economics

3 units

This class is about Macroeconomics, the sub-field of Economics that studies the evolution and the determinants of aggregate quantities such as GDP, unemployment, international trade, government debt, and prices such as exchange rates, interest rates, wages, etc. The class pays special attention to international-related topics and provides an economic foundation to the analysis of business decisions in a global setting. Among the questions that macroeconomists ask are: (i) why are some countries very rich and others are very poor? (ii) what causes inflation? (iii) is international trade beneficial to everybody? (iv) does a large federal budget deficit today imply high interest rates in the future? (v) why sometimes do countries plunge into devastating financial crisis?