Applied Macroeconomics: Understanding the Real Economy (IEF)

This course offers an applied approach to macroeconomics, focused on helping students understand how the economy works in practice. We explore how individuals, firms, and governments make decisions in response to key macroeconomic forces, including inflation, interest rates, debt, economic growth, trade, and fiscal and monetary policy. While the logic of economic models provides a vital framework, we focus equally on the complexities, constraints, and behaviors that emerge in real-world settings. Each week connects theoretical tools to practical analysis, using case studies, current policy debates, and media coverage to show how expectations, risk, incentives, and institutions shape economic outcomes. Students will examine why people and institutions don’t always behave the way the models expect, and what that means for interpreting events in the real economy.

Prerequisites:

Introductory level macroeconomics

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