|Course||Course Title||Credit Hours|
|ECON 201||Principles of Macroeconomics||(4-0) 4 Cr. Hrs.|
Macroeconomics refers to that portion of economic analysis which is concerned with behavior of economy-wide issues, e.g., inflation, unemployment, etc. By means of theoretical reasoning and empirical research, economists have identified a number of relationships or principles which are useful in explaining and predicting macroeconomics, their application to an understanding of current economic problems and their implication for economic policy. The intent of the course is to provide the student with a basic level of economic literacy essential for a well-informed citizenship in the years ahead. In economics, perhaps more than any other comparable discipline, things are not always what they appear to be. Indeed, many economic problems both past and present have resulted from the misunderstanding of fundamental economic relationships.
(A requirement that must be completed before taking this course.)
- MATH 053 or equivalent.
Upon successful completion of the course, the student should be able to:
- Explain economics and its relation to the other social sciences.
- Illustrate graphs in economic analysis.
- Investigate free market capitalism.
- Explore National Income Accounting.
- Analyze economic growth and business cycles.
- Examine unemployment and its measurement.
- Explain inflation\deflation and its measurement.
- Explore the development and role of money in an economic system.
- Investigate the role of the Federal Reserve System and the process by which it controls the money supply and interest rates.
- Explain how aggregate demand and aggregate supply are used as a model of the macro economy.
- Explore Classical and Keynesian theories of the macro economy and business cycles.
- Examine the Keynesian criticism of Classical Theory.
- Explore the role of monetary policy on an economic system.
- Investigate the role of fiscal policy on an economic system.
- Explain supply side economics.
- Investigate the role of international trade on an economic system.
Note: This course may not be offered every semester.
Please check the ECON section of the current course schedule for availability.