CLSOCEC001 - Macroeconomics and the Global Economy
Understand the forces that shape the global economy in this overview of macroeconomics, with insights on the COVID-19 recession and the Great Recession. Macroeconomics attempts to explain the evolution of economic aggregates over time, such as inflation and gross domestic product. What makes macroeconomics so compelling is the interaction between theory and practice. This course gives students the background to comprehend broad movements in the global economy. The emphasis is on constructing models and contrasting them with evidence. Learn about determinants of long-term economic growth, consumption, savings, investment, short-term economic fluctuations, unemployment, inflation and interest rates. Also consider how fiscal and monetary policy affect macroeconomic outcomes. By the end of the course, you should be able to understand discussions of macroeconomics in popular media and publications such as The Economist and the Congressional Budget Office. No prior background in economics is needed to take part in this course.
Note: Rice University does not offer financial or investment advice. The intent of this course is to provide a general educational overview of the topics described. To determine the applicability of the course content to your personal finances and investments, and for specific advice pertaining to your personal financial situation, you should consult a financial advisor of your choosing.
Course Details
Amelie Carlton, Ph.D., is a lecturer of economics at Rice University and a faculty associate of Baker College. Her areas of expertise are macroeconomics, energy and financial markets. She holds a Ph.D. in economics from the University of Houston and is a former energy commodities trader. Dr. Carlton teaches macroeconomics and energy macroeconomics at Rice University and has formerly taught Introduction to Global Business, The Economics of Globalization and other courses at the University of Houston. Dr. Carlton is a recipient of Rice University’s 2021 George R. Brown Award for Superior Teaching, Sarah A. Burnett Teaching Prize in Social Sciences and the Malcolm Gillis Award for Distinction in Undergraduate Teaching in Economics.
On Campus
This course will be delivered on campus / in person. Parking and room information will be sent prior to the class start date.
- Overview of Macroeconomics and the Importance of Gross Domestic Product (GDP)
- The Macroeconomy in the Long Run: Tools economists use to understand the enormous differences in standards of living across countries and long-run economic growth
- The Macroeconomy and the Short Run: Booms, recessions, and the importance of monetary and fiscal policy
- The Macroeconomy and Applications: The role of government budget deficits and the study of macroeconomics in an international context
- The Macroeconomy and Recent Shocks: Understanding aggregate demand and supply shocks during the COVID-19 pandemic, the COVID-19 recession and the Great Recession
- The Post-Pandemic Global Economy: Important lessons learned from recent shocks and how we can better prepare for the future. Education is the first step to a better future.
Rice University does not offer financial or investment advice. The intent of this course is to provide a general educational overview of the topics described. To determine the applicability of the course content to your personal finances and investments, and for specific advice pertaining to your personal financial situation, you should consult a financial advisor of your choosing.
Department of Economics, Rice University