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Print this page Macroeconomics

Macroeconomics looks at the big picture of the performance of the national economy and its links to the global economy, as opposed to microeconomics, which focuses on the economic behavior of individual consumers and businesses. This course is designed to examine many aspects of the economy from this aggregate perspective. You will learn some of the basic tools economists use, fundamental concepts, graphing skills, and an overview of the interrelated components of the United States economy. We will explain the importance of supply and demand, economic measures, growth, employment and inflation, and how these relate to the business cycle and the health of the economy. You will also develop your knowledge of aggregate expenditures and aggregate supply and demand, which have a specific macroeconomic point of reference. In this course, we will demonstrate the roles of fiscal policy, money, banks, and monetary policy in the economy, and how politics and the Federal Reserve can influence economic outcomes. You will also learn about the interplay of deficits, surplus, and national debt, and have the chance to analyze the U.S. Health and Social Security system. Throughout the course, you will have the opportunity to examine various international issues of particular importance in today�s global economy, such as exchange rates and the balance of payments. You will also take part in a group research project to conduct regional or country studies, which professional economists at various international organizations do for a living.

Walter G. Park
Walter G. Park
Associate Professor of Economics

Walter G. Park is an Associate Professor of Economics at the American University in Washington, D.C. He earned his Ph.D at Yale University (USA), M.Phil. at Oxford University (UK), and B.A. at the University of Toronto (Canada).

More of Dr. Park's bio