Introduction to the basic mechanisms of macroeconomics, including key underlying concepts, theories and institutions such as the market system, national income accounting, the Classical and Keynesian theories, the Federal Reserve System and the banking system. An examination of various contemporary economic problems such as business cycle, economic growth, unemployment, inflation, and budget deficit and debt. Other topics including money creation by the banking sector, the role of the central bank, fiscal policy, and monetary policy are also examined. (C-ID ECON 202)