Introduction to Economics

Macroeconomics refers to the study of an economy as a whole. If you’re interested in knowing more about how your national economy functions, this course is an excellent choice. The course begins by discussing gross domestic product (GDP), explaining what it is, nominal vs real GDP and the standard of living, as well as how GDP is analyzed through national spending.

The course then moves on to talk about the wealth of nations, looking at the basic facts of wealth and how growth rates are crucial. It also explores innovations and looks at both growth miracles and disasters, exploring what contributes to the former and what can cause the latter. The course also discusses the importance of institutions and geography and economic growth.

Finally, the course moves on to introduce you to the Solow Model and how it helps to distinguish cutting edge growth. It also teaches you about the economics of ideas, human capital and how the incentivization of ideas through patents, prizes and subsidies can help growth. This course is an excellent choice for those studying economics, teachers of economics, or anyone who is interested in macroeconomics.