Economics: Inflation, Interest Rates and Unemployment

<p>Macroeconomic variables such as GDP, inflation, unemployment, interest rates and exchange rates are central to understanding how the economy functions. This course provides you with the tools to grasp these variables and key economic relationships to gain a deeper understanding of our society.</p><p>The course provides an introduction to key macroeconomic variables and the interaction between them within the economy. You will learn how macroeconomic variables are defined, how they relate to one another and the implications of, for example, GDP growth, inflation and unemployment for society. You will explore inflation and the importance of price stability, how interest rates influence investment and consumption and the factors that affect unemployment. You will analyse GDP as a measure of economic activity, studying its components (consumption, investment, public expenditure and net exports) and how they are influenced by economic policy and external events. In addition, you will examine macroeconomic variables such as exchange rates, the balance of trade and the money supply.</p><p>You will read core macroeconomic literature, supplemented with articles and video material on economic events such as central bank interest rate decisions or global trade conflicts. You will apply theoretical insights to real-world scenarios, such as the effects of fiscal policy on unemployment or the role of monetary policy in controlling inflation. The course emphasises both theoretical understanding and practical application.</p>