Principles of Economics (Macroeconomics)
ECON 10B
Subject & Catalog Number
Course Information
Description
Ec 10b continues the curriculum presented in Ec 10a, moving to the study of macroeconomics including the growth of the overall economy, business cycles, and economic crises. Ec 10b explains what economists do and do not understand about these issues by developing analytical approaches and examining data, including studying the global financial crisis and the economic crisis caused by COVID-19. The course also explains how policy makers can dampen economic fluctuations using monetary policy (i.e., government influence over interest rates and government regulation of banks), fiscal policy (e.g., government control of spending and taxation), and financial rescues in economic crises. 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.
Course Notes
Ec 10b is the second half of an integrated sequence that begins with the study of microeconomics in Ec 10a. Students may elect to take only the fall microeconomics course and receive four credits. This sequence is designed with two types of students in mind. For students who will never take another economics course, Ec 10a and 10b provide a self-contained training to prepare them to understand and engage with economic issues. For students who end up deciding to be Economics Concentrators, Ec 10a and 10b provide a wide-ranging introduction to the field and are required courses. The Department of Economics strongly encourages students considering concentrating in Economics to take these courses during their first year in the college. Ec 10a and 10b are not duplicative of AP Economics courses but aim to provide a broader perspective and a deeper engagement with public policy. Ec 10a or 10b fulfill the Social Sciences distribution requirement for the General Education program. It is not necessary for students to take both halves of Ec 10 to fulfill this requirement.
Available for Harvard Cross Registration
NOTE: This course requires additional sections; you will be prompted to choose secondary components during the Add to Cart process
