1 Introduction

Module 1 – What is Macroeconomics?

Module Introduction

In this module, you will learn important definitions and concepts in Economics. We will discuss how people make rational choices and explain the economic way of thinking. Several economic trends and economic problems to be discussed throughout the course, include:

  • self-interest vs. social interest
  • globalization, job outsourcing and multinational corporations
  • information age
  • business cycles and economic recessions
  • economic growth
  • unemployment
  • inflation
  • climate change and wasting the planet’s resources
  • growing government budget deficit and debt

Last, we briefly review the use of graphs, mathematics and geometry used in the course. (1)

Learning Objectives

  • Define Economics concepts.
  • Explain economic models.
  • Discuss how economic concepts and models can be applied to real-world situations.
  • Recognize the use of graphs in Economics.
  • Review basic graphing skills (1)


  • Learning Unit


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Principles of Macroeconomics Copyright © by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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