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ECO 102 - Principles of Macroeconomics


Credits: 3
3 Lecture Hours

Description
This course is an introduction to the economic activity of the nation, introducing basic concepts and institutions. The emphasis is on aggregate income and spending, the government fiscal and monetary policy, national income accounting, economic growth and comparative economic systems.
Learning Outcomes
Upon successful completion of the course, the student will:

  1. Construct, label and interpret supply and demand curves.
  2. Categorize specific principles of unemployment.
  3. Compare and contrast the three types of inflation and explain the redistribution effects of inflation and deflation.
  4. Examine the roles government plays in the economy.
  5. Compare and contrast principles of national income accounting: GDP, NDP, NI, PI and DI.
  6. Break down and examine the tools of modern employment theory: e.g., MPC and MPS, investment instability and the multiplier effect.
  7. Examine the tools of monetary policy.
  8. Assess issues of the global economy, notably specialization and comparative advantage and multilateral trade agreements and free trade zones: e.g., NAFTA and the EU.
Listed Topics
  1. The elements of supply and demand
  2. The issues of unemployment and inflation
  3. The role of the government in the economy
  4. National income accounting
  5. Fiscal policy
  6. Monetary policy
  7. International trade
Reference Materials
  1. Textbook
  2. Study Guide
  3. Library
  4. Computer
  5. Small group discussion
  6. Audiovisuals

Approved By: Johnson, Alex Date Approved: 12/13/2010


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