Foundational Economics

This three-part webinar will help students meet their Economics pre-requisite. Students who have met the PCBS Economics pre-requisite but need foundational background to prepare them for the discussions on the economy in the first year course, Analysis of Business Conditions, can also register for this course. Dr. Snaith will cover core economic laws, basic macroeconomic measures of the economy, tools of fiscal policy, the business cycle, inflation and unemployment and how the Fed conducts monetary policy. With concepts fresh in mind, students will be fully prepared for the issues covered in Analysis of Business Conditions.

Session One

1. Principal concepts of economics
2. Underpinnings of the economy (scarcity, choice, opportunity cost, efficiency)
3. Basic elements of microeconomics: supply, demand and market equilibrium

Session Two

1. Overview of macroeconomics
2. Measuring economic activity
3. Business cycles and aggregate demand

Session Three

1. Aggregate supply
2. Unemployment and inflation
3. Money and the financial system
4. Monetary policy