This Credit Unit moves the focus from the firm and household level to the national level. The material covers how the national economy is measured with a number of key indicators: gross domestic product, unemployment rate, and inflation rate. Credit Unit 2 introduces models to examine how the economy fluctuates in the short run and grows in the long run. The short run model, the aggregate demand and supply model, focuses on explaining the causes of the business cycle. The first two course outcomes will be covered.

Course Outcomes: