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This course explores the workings of a closed economy from a macroeconomic perspective. Although the course focuses primarily on the United States, the concepts and tools apply to market economies worldwide. Major topics include the determinants of an economy’s employment, output, and inflation in the long run and short run; money and banks, and interest rates; the role of fiscal and monetary policy in stabilizing the economy and ensuring full employment and price stability, and the impact of major crisis events on the macroeconomy.