This course explores the ideal of social justice. What makes a society just? We will approach this question by studying three opposing theories of justice - utilitarianism, libertarianism, and egalitarian liberalism - each foundational to contemporary political thought and discourse.

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:

Differentiate among a floating exchange rate, a soft peg, a hard peg, and a merged currency
Identify the tradeoffs that come with a floating exchange rate, a soft peg, a hard peg, and a merged currency

By the end of this section, you will be able to:

Analyze whether monetary policy decisions should be made more democratically
Calculate the velocity of money
Evaluate the central bank’s influence on inflation, unemployment, asset bubbles, and leverage cycles
Calculate the effects of monetary stimulus

By the end of this section, you will be able to:

Discuss why and how economists measure inflation expectations
Analyze the impacts of fiscal and monetary policy on aggregate supply and aggregate demand
Explain the neoclassical Phillips curve, noting its tradeoff between inflation and unemployment
Identify clear distinctions between neoclassical economics and Keynesian economics