Economics 1B : Basic Macroeconomics theory and Variables

Learn Core Macroeconomic Theories and Understand Key Variables That Shape National and Global Economies

What you'll learn
- Explain Key Macroeconomic Variables – Understand and describe concepts such as GDP, inflation, unemployment, and economic growth.
- Analyze the Functioning of the Economy – Evaluate how various sectors interact within an economy and how economic activity is measured.
- Interpret Economic Performance – Use macroeconomic indicators to assess the health and performance of a national economy.
- Understand Fiscal and Monetary Policy Tools – Identify how governments and central banks influence economic outcomes through policy decisions.

Requirements
- Basic Literacy and Numeracy – Ability to read and interpret graphs, work with simple equations, and understand percentages or basic math operations.
- Completion of Economics 1A (Microeconomics) (recommended) – A foundational understanding of microeconomic principles will help, but is not strictly required.
- Access to a Computer or Mobile Device with Internet – To watch lectures, access course materials, and complete quizzes or assignments.
- Curiosity About the Economy – A genuine interest in understanding how economies operate on a national and global level.

Description
Welcome toEconomics 1B: Basic Macroeconomics Theory and Variables, a beginner-friendly course designed to introduce you to the core principles of macroeconomics. In this course, you'll explore how entire economies function, how economic performance is measured, and how governments and central banks influence growth, stability, and employment.

We’ll start by examining thekey macroeconomic variables—Gross Domestic Product (GDP), inflation, unemployment, interest rates, and national income—and how they reflect the health of an economy. You’ll learn how these indicators interact and what they reveal about economic trends and challenges in both national and global contexts.

The course will also guide you through fundamentalmacroeconomic theories, including classical, Keynesian, and modern approaches to understanding aggregate demand and supply, fiscal and monetary policy, and economic cycles. You'll gain insight into how governments use policy tools to manage inflation, stimulate growth, and reduce unemployment.

By the end of this course, you’ll be equipped toanalyze and interpret macroeconomic data, understand real-world economic issues, and apply foundational concepts to assess the performance of any economy.

This course is ideal for university students, non-economics majors, or anyone looking to gain a deeper understanding of how large-scale economies operate. No prior economics background is required—just a willingness to learn!

Who this course is for:
- First-year university students studying economics, business, political science, or related disciplines.
- Students preparing for further economics modules who need a solid grounding in macroeconomic principles.
- Non-economics majors who want to understand how national and global economies function.
- Professionals or curious learners seeking to better grasp economic indicators, government policies, and real-world macroeconomic issues.
- This course is ideal for anyone looking to understand how economies work at a national and global level—no advanced background in economics is required.
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