In this section, you will learn key macroeconomic concepts and functions, such as the Gross Domestic Product (GDP) of a country and how to apply the expenditure and income approaches to measure it. We also discuss the components of aggregate demand and supply and how changes in them affect the macroeconomic equilibrium. Lastly, we examine the sources, measurement, and sustainability of economic growth and Solow's production function.

This section of the Macroeconomics course covers the theory of business cycles and their relationship with factors of production, the housing market, and the external trade sector. You will learn about the types and measures of unemployment and the impact of inflation on economic growth. We define various concepts, including inflation, hyperinflation, disinflation, deflation, cost-push, and demand-pull inflation. Finally, we show you how to calculate major economic indicators.

This section is dedicated to the importance and limitations of monetary and fiscal policies. We explore the functions and definitions of money and the money creation process. This will help you understand the quantity theory of money, the Fisher Effect, and the monetary transmission mechanism. We also cover the roles, objectives, and limitations of monetary/fiscal policy, the cost of expected and unexpected inflation, and the qualities of effective central banks.

In the final section of the Macroeconomics course, we explain the difference between Gross Domestic Product and Gross National Product and how to calculate them. You will learn more advanced macroeconomics functions, such as the absolute and comparative advantage and the Ricardian and Heckscher-Ohlin models of trade. In addition, we explore the types and economic implications of trade and capital restrictions. Finally, we introduce the concept of Balance of Payments (BOP) and the functions and objectives of major international trade organizations.