Nov 30, 2020
ECN 221W - Principles of MacroeconomicsCredits: 4
Instructional Contact Hours: 4
Studies the impact of consumer, business and government decisions on the macro economy. Includes: supply and demand analysis, measures of macroeconomic performance, money and banking, and various schools of macroeconomic thought and their policy implications.
Prerequisite(s): READING LEVEL 2 or WRITING LEVEL 2 and one of the following: MATH LEVEL 4, MGT 110 , SKMA 111 .
Lecture Hours: 60 Lab Hours: 0
Meets MTA Requirement: Social Science
Outcomes and Objectives
- Demonstrate an understanding of the basic economic models with their assumptions.
- Use the production possibilities frontier to discuss scarcity, opportunity costs, factors of production, limitations on production, gains from trade and limitations of simple economic models.
- Use supply and demand to determine market changes in price and quantity.
- Analyze macroeconomic theory with statistical data.
- Describe the significance of Gross Domestic Product.
- Describe the significance of unemployment.
- Describe the significance of inflation.
- Identify understanding of basic macroeconomic models.
- Assess the economy status by using aggregate demand/aggregate supply model and Keynesian theory.
- Demonstrate graphically an economy's moving to full employment and the impacts of the labor and funds markets in these transitions.
- Demonstrate the impacts of fiscal and monetary policy on the economy through the various macroeconomic models.
- Demonstrate an understanding of the U.S. economy’s place in the global economy.
- Identify the special role of the financial sector in economic activity.
- Describe the role of financial institutions in the U.S. banking system and their links to monetary policy.
- Describe and analyze the role of central banks and the unique nature of the Federal Reserve System in terms of their potential impact on the economy as a whole.
- Compare and contrast the strengths and weaknesses of monetary policy and fiscal policy.
- Write effectively for a specific purpose.
- Practice critical writing skills within the subject.
- Analyze course content in written form.
- Explain the subject matter in a coherent writing style.
Add to Portfolio (opens a new window)