1 About This Course
Waymaker Macroeconomics (Summer 2018)
This macroeconomics course prepares students to think like economists and analyze decisions made by individuals, businesses, and governments. Students will learn about the key macroeconomic indicators of GDP, unemployment, and inflation, then apply these concepts to analyze economic behavior. Content coverage includes choice and scarcity; supply and demand; elasticity; applications of supply and demand; elasticity; gdp and economic growth; unemployment and inflation; the aggregate demand-aggregate supply model; Keynesian economics and neoclassical economics; the income-expenditure model; fiscal policy; money and banking; monetary policy; policy applications; globalization and trade; exchange rates and international finance.
Contributors
This course, based on OpenStax Principles of Economics, includes additional noteworthy contributions by the Lumen Learning team and:
- Steve Greenlaw (University of Mary Washington)
- Sophie Haci (Houston Community College)
- Melissa Walker (Nashville State Community College)
- Veronika Dolar (SUNY Old Westbury)
- Michael Fusillo (Tufts University)
- Shawn Kilpatrick (Northeastern University)
- Jennifer Pakula (Saddleback College)
- Clark Aldrich
What’s New?
This new edition of Waymaker Macroeconomics includes significant improvements and enhancements:
Data-Driven Improvements
Several topics proved to be consistently difficult for the thousands of students who took a Waymaker Economics course during Fall 2017. We have made specific improvements to address these difficult topics, several of which are explained below:
- The Production Possibilities Frontier: The new version of the course includes additional applied graphing practice and two new videos on this topic (see https://courses.lumenlearning.com/wm-macroeconomics/chapter/the-production-possibilities-frontier/)
- Price Elasticity and Total Revenue: The new version of the course includes additional applied practice on this topic (see https://courses.lumenlearning.com/wm-macroeconomics/chapter/elasticity-and-total-revenue/)
- Surplus and Efficiency: The new version of the course includes a “Learn by Doing” page for additional practice in solving for consumer and producer surplus (see https://courses.lumenlearning.com/wm-macroeconomics/chapter/learn-by-doing-consumer-and-producer-surplus/)
- Graphs in Economics: The new version of the course includes several new practice questions, including those which enable students to manipulate graphs (see https://courses.lumenlearning.com/wm-macroeconomics/chapter/interpreting-slope/)
General Improvements
- Improved course organization
- Modules are more consistent in size and depth
- Content is organized around specific, granular, learning outcomes, which are listed at the top of each page
- Practice questions, try it questions, and quiz questions all align with learning outcomes
- “Try It” embedded practice questions for every learning outcome (for example, on thi