A course covering theories and applications of the aggregate economy in the short-run, long-run, and very long-run. Classical and Keynesian models are developed and contrasted in both a closed- and an open-economy context. Topics include the determinants of output, unemployment, and inflation, the theories of economic growth, an analysis of short-run fluctuations (business cycles), and monetary, fiscal, and trade policies. This course is designed to develop analytical tools which will enable the student to analyze macroeconomic problems and the wisdom of policymakers’ arguments and decisions. Special attention is given to the Great Depression and the Financial Crisis of 2008-09. Prerequisite: C- or better in ECON 110 . (Group I)