ECON 2105: Principles of Macroeconomics

Grasp the essence of Real GDP, a pivotal tool to gauge an economy's true performance. Through relatable scenarios, understand how production, inflation, and external events influence this economic measure. Economics, as showcased, is integral in deciphering our global landscape.

Explore the fundamental concept of scarcity in economics. Understand the tension between our infinite desires and the finite resources we have. Grasp how scarcity influences our choices, necessitating trade-offs in everyday decisions.

Explore the intricacies of monopolies and price discrimination in the market. Unpack myths and truths about consumer behavior and pricing strategies. Real-life examples illuminate these fundamental economic concepts.

Grasp the distinction between nominal and real exchange rates, using the yen and dollar as examples. Learn how these rates influence purchasing power in different economies. Understand their implications in the global trade landscape.

Discover the power of the profit-maximizing rule in perfectly competitive markets. Unearth how setting price equal to marginal cost optimizes consumer and producer benefits. Grasp the significance of this rule for societal resource utilization.

Discover the pivotal role of assumptions in economics as we navigate the challenges of studying intricate market behaviors and human actions. Unveil how these simplifications foster comprehensive economic analyses and predictions.