Ec 10b - Principles of Economics - Teaching Fellow (TF)





Course Description: Ec 10B continues the curriculum presented in Ec 10A. Starting with the descriptive and ethical frameworks of Ec 10A, Ec 10B moves from the study of microeconomics (individual decision-making and individual markets) to the study of macroeconomics (e.g., the growth of the overall economy, unemployment, and inflation). Ec 10B explains what economists do and do not understand about why per capita income varies so much across countries and what factors determine the rate of aggregate economic growth. Ec 10B also explains why the economy fluctuates, as illustrated by sharp changes in the rate of unemployment, the net rate of job creation, or the rate of overall economic growth. The course also explains how policy makers attempt to manage and dampen these fluctuations using both monetary policy (i.e., government influence over interest rates and government regulation of banks) and fiscal policy (e.g., government control of spending and taxation). We will also discuss how macroeconomic policies work in an international context, including the factors that affect exchange rates, trade deficits, international capital flows, and how these link economies around the world.  Like Ec 10A, Ec 10B introduces students to economic models and discusses both how they are supported and how they are contradicted by available data.