National income; aggregate supply and aggregate demand; inflation, unemployment and interest rates; money and monetary institutions; economic growth; balance of payments; and exchange rates.

The problem of scarcity and its implications, choice; opportunity cost, specialization and exchange; supply and demand; economic choices of households and firms; competition and monopoly; resource markets; public policy; income distribution.

must be taken prior to or at the same time as 1022A/B. Students are strongly advised to take

ECONOMIC 1022A/B

PRINCIPLES OF MACROECONOMICS

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