ECON 201: Introduction to Macroeconomics

Welcome Message for Students

Before we begin, please take the time to read and familiarize yourself with the most recent version of the syllabus. This course is fully in person, and most of your success will come from staying engaged during lecture, keeping up with the weekly homework, and asking questions early. The syllabus outlines exactly how the class is structured, what is expected of you, and how to prepare for each week.

We will begin with a brief review of supply and demand concepts from ECON 200. For many of you, this material will feel familiar, but it is essential groundwork for the macroeconomic tools we develop throughout the quarter.

The focus of the course is macroeconomics, which studies the economy as a whole rather than individual decision-makers. While microeconomics examines how consumers and firms behave, macroeconomics asks broader questions about national and global economic conditions, such as:

  • What causes economies to grow or fall into recession?

  • Why do inflation and unemployment occur?

  • How do fiscal and monetary policy influence economic outcomes

  • What role do banks, interest rates, and exchange rates play in shaping the economy?

Throughout the quarter, we will study GDP, labor markets, inflation, the financial sector, monetary and fiscal policy, and international linkages. These topics will be tied directly to current events and real-world policy debates. Weekly homework, in-class quizzes, writing assignments, and exams are designed to reinforce these concepts and help you practice applying them.

Please make sure you can access Canvas, where weekly homework, readings, and announcements will be posted.

My Approach to Economic Reasoning

Economic reasoning is not about memorizing definitions or formulas. It is the skill of taking a real-world question, breaking it into its essential components, and using evidence, models, and logic to understand what is happening. This is a way of thinking that anyone can learn with deliberate practice.

• Economics is a discipline of clarity. A well-reasoned explanation is more valuable than a complicated one. When you can articulate why something happens using the basic tools of the course, you are thinking like an economist.

• Mistakes are informative, not failures. Misinterpreting a graph or misapplying a concept is part of the learning process. These moments reveal where your reasoning can be strengthened, not your limits.

• Deep understanding comes from revisiting ideas. Macroeconomic concepts connect to one another: GDP, unemployment, inflation, interest rates, and policy decisions are interdependent. Repetition builds intuition.

• Think in mechanisms, not labels. Rather than remembering that “AD shifts left,” focus on why households or firms change their decisions, or how interest rates affect investment. Mechanisms allow you to apply your knowledge well beyond textbook examples.

• Focus on questions, not shortcuts. Strong economic reasoning comes from consistently asking: What changed? Who is affected? Through what channel? What are the tradeoffs?

• Learn to communicate in the language of economics. Many students already think intuitively in terms of incentives and mechanisms; the goal of this course is to help you express that reasoning clearly and confidently.

The goal of ECON 201 is not just to teach macroeconomic tools, but to help you develop a durable way of thinking about the economy. Confidence comes from consistent engagement and the willingness to revisit ideas until they click. Economics is a skill you build through practice, not something you either understand immediately or never will.

If anything in the syllabus is unclear or if you have concerns about your progress, please reach out early. I am here to support your learning.

I look forward to working with you this quarter.

Best,

Tsering Sherpa