Building on the foundation laid in both Microeconomics (EC202) and Macroeconomics (EC201), this course explores the two key concerns of macroeconomic theory: long-run economic growth and short-run cyclical fluctuations. After a brief review of some basic macroeconomic concepts, the course will examine the behavior of the aggregate economy in the long-run. We will study the determinants of the level of real output in the long-run as well its allocation across sectors of the economy. We will the look at what determines changes in the level of real output over time. We will also take a closer look at unemployment and inflation as economic problems. The course will then turn to an examination of the behavior of the aggregate economy in the short-run. We will make use of several different models (AD/AS, IS/LM) to explore the determinants of real aggregate output in the short-run and to develop some insights into the causes of the periodic fluctuations in economic activity known as the business cycle. Throughout the analysis we will be paying attention to the implications of the international sector for macroeconomic behavior in both the long -run and the short-run. We will close the semester by taking a closer look at some specific aspects of our macroeconomic model, including consumption, investment, and the national debt.