This is the first of the three courses part of the Globalization, Economic Growth and Stability Specialization. This course will employ a non-technical approach to analyze how governments use policy to influence a country's economy. Upon completing the course you should be able to discuss national debts and deficits, examine fiscal and monetary policy and their appropriateness to the situation of an economy, and anticipate the results of fiscal and monetary policies and structural reform on a country. These concepts will give you the tools to develop your own position in many current economic debates, such as fiscal stimulus vs. austerity, the merits of quantitative easing, the need for higher interest rates or the future growth path of many modern economies.
Este curso forma parte de Programa Especializado - Globalization, Economic Growth and Stability
Understanding economic policymaking
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Programa - Qué aprenderás en este curso
Semana
1Macroeconomy Overview
We are surrounded by news and commentary on the macroeconomy. To understand it, we need to grasp the meaning of GDP, inflation and unemployment and see what their “normal” levels are and how they relate to one another. Though these levels and relationships are far from mechanical, they provide an essential foundation to understanding what governments are doing in a macroeconomy.
11 videos (Total 87 min), 5 readings, 1 quiz
11 videos
What is GDP - The Circular Flow Diagram11m
Potential GDP as a Reference Point for the Business Cycle9m
GDP Gaps and Policymaking7m
What Does a Business Cycle Look Like?9m
What Drives the Business Cycle - Aggregate Supply and Aggregate Demand6m
Aggregate Supply and Aggregate Demand II9m
Aggregate Supply and Aggregate Demand III: Shifts in Aggregate Demand10m
Aggregate Supply and Aggregate Demand IV: Shifts in Aggregate Supply7m
GDP Growth in the Real World and Future Prospects4m
Conclusion: Module One7m
5 lecturas
Syllabus: Module 110m
Grading Policy10m
Course Staff10m
Contact Us10m
Copy of Course Staff10m
1 ejercicio de práctica
Macroeconomy Quiz14m
Semana
2The Fiscal Policy Tool
Welcome to Module 2! We will be going into fiscal policy, which is one of the key tools that authorities have to influence the economy and bring GDP closer to its ideal growth rate. It consists of changes in government spending and taxes. To try to gauge how much spending and taxes need to change to bring GDP to potential, we use two concepts: the multiplier, and crowding out. However, spending and tax revenues also move automatically across the business cycle, helping make the economy more stable. Thanks for being with us! Enjoy learning!
7 videos (Total 49 min), 1 reading, 1 quiz
7 videos
Restrictive and Expansive Fiscal Policy Tools9m
The Multiplier Effect of Fiscal Policy9m
Crowding Out9m
Automatic Stabilizers8m
Fiscal Policy in the Real World9m
Conclusion: Module Two1m
1 lectura
Syllabus: Module 210m
1 ejercicio de práctica
Fiscal Policy Tool Quiz14m
Semana
3Deficits, Debts, Myths and Realities
Welcome to Module 3!
Now we know how fiscal policy is supposed to work in the economy, to close recessionary or inflationary gaps. In this module we will get into the nuts and bolts of deficits and debts in the real world and I am sure we will have some interesting follow-up discussions! How is it really used? What are government deficits and debts? When governments run deficits and need to borrow money, how and where do they do it? When are these deficits and debts more of a problem? This module will look at the US and other leading economies in recent years to answer these questions, clear up some common misconceptions, and point to what the most important concerns are with deficits and debts at the present time.
Good luck and see you online!
10 videos (Total 65 min), 1 reading, 1 quiz
10 videos
Government Deficits and Surpluses10m
How Do Governments Borrow Money? (I)5m
How Do Governments Borrow Money? (II)11m
Who Owns Public Debt in Advanced Economies?6m
How Much Deficit is Too Much?8m
US Debt2m
Strengths and Weaknesses of Fiscal Policy4m
Conclusion: Module Three1m
Office Hours Modules 1 to 312m
1 lectura
Syllabus: Module 310m
1 ejercicio de práctica
Deficits, Debts, Myths and Realities Quiz14m
Semana
4Monetary Policy
Welcome to Module 4!
This week we're tackling a fascinating issue, which is monetary policy, and I anticipate some very interesting debates. Monetary policy is the other main tool that governments can use to influence the economy. Monetary authorities work through the money supply and can use open market operations, their own lending rates and reserve or cash ratios to influence money markets and hence the real economy. Just as with fiscal policy, once the gap in the economy is identified, expansive monetary policy should be used in a recessionary gap and restrictive monetary policy in an inflationary gap. Monetary policy is superior to fiscal policy in many ways, but its greatest weakness is that it does not work nearly as well in recessionary gaps as in inflationary gaps.
Keep up the good work!
7 videos (Total 51 min), 1 reading, 1 quiz
7 videos
What is Money and What are Central Banks8m
Central Banks in the World7m
What are the Tools of Central Banks?16m
How Does Monetary Policy Work Across the cycle and Why Does it Sometimes Fail?10m
Strengths and Weaknesses of Monetary Policy5m
Conclusion: Module Fourm
1 lectura
Syllabus: Module 410m
1 ejercicio de práctica
Monetary Policy Quiz14m
17%
comenzó una nueva carrera después de completar estos cursos
83%
consiguió un beneficio tangible en su carrera profesional gracias a este curso
Principales revisiones
por PH•Dec 9th 2015
Excellent overview economics course. Dr. Allard does a fantastic job explaining basic economic concepts and principles so that a novice can better understand this one critical aspect of their world.
por KK•Dec 27th 2015
Great insights, I now feel like I am macro-economically literate and I will be using this information when interviewing and now possible grilling certain politicians in my town!\n\nThank you Gayle!
Instructor
Gayle Allard
ProfessorEconomics
Acerca de IE Business School
IE Business School is an internationally recognized business school where the leaders of tomorrow shape their ideas and learn to become global citizens. For over 40 years, IE Business School has promoted innovation and change in organizations, equipping managers with an entrepreneurial mindset that generates employment, wealth, and social well-being.
Regularly featured among the top business schools in the world, IE Business School has an urban campus in Madrid and a faculty of more than 400 professors who teach students from approximately 90 countries in its undergraduate and master programs. IE uses innovative online, face-to-face, and blended learning formats, including the IE Communities Platform where knowledge and experiences are exchanged with over 50,000 IE graduates that currently hold management positions in more than 100 countries worldwide.
Acerca del programa especializado Globalization, Economic Growth and Stability
This Specialization aims to make economic concepts accessible to every learner, and to teach them to analyze current events using the toolkit of economics. It begins by explaining the basic parameters of the macroeconomy, and how governments can/should use both fiscal and monetary policy to influence growth, inflation and employment. It then moves on to the international arena, where countries interact, and explains the basic principles of free trade, exchange rates, the balance of payments and immigration and how these interactions affect our everyday lives. Finally, learners will apply these tools and concepts to the world's leading economies and discover how they can "read" from a country's economic data important lessons about the risks and opportunities of doing business in these countries, equipping them with tools that they can use in the workplace and even in their personal investment decisions.
Preguntas Frecuentes
¿Cuándo podré acceder a las lecciones y tareas?
Una vez que te inscribes para obtener un Certificado, tendrás acceso a todos los videos, cuestionarios y tareas de programación (si corresponde). Las tareas calificadas por compañeros solo pueden enviarse y revisarse una vez que haya comenzado tu sesión. Si eliges explorar el curso sin comprarlo, es posible que no puedas acceder a determinadas tareas.
¿Qué recibiré si me suscribo a este Programa especializado?
Cuando te inscribes en un curso, obtienes acceso a todos los cursos que forman parte del Programa especializado y te darán un Certificado cuando completes el trabajo. Se añadirá tu Certificado electrónico a la página Logros. Desde allí, puedes imprimir tu Certificado o añadirlo a tu perfil de LinkedIn. Si solo quieres leer y visualizar el contenido del curso, puedes auditar el curso sin costo.
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