MGT 588 - Macroeconomics
Who controls the economy? The President? Congress? Alan Greenspan? What causes unemployment to rise? What causes inflation? The answers to these questions can have a dramatic effect on many decisions that an executive faces. Macroeconomics is the study of the economy as a whole. It endeavors to explain the regular pattern of expansions and recessions that we call the business cycle and it offers a variety of potential policy prescriptions to ameliorate the cycle. We will study the models of Keynes, Friedman and Supply Side models. We will, as it turns out, conclude that all of the players mentioned above affect the economy but none of them control it.