ECON 202 Principles of Macroeconomics

This course serves as an introduction to the principles of macroeconomics analysis, which deals with the study of general economic aggregates such as total production, real income, employment, and the general price level in the economy as a whole. This course defines the relevant macroeconomic variables, examines their interrelationships, and analyzes the forces at work in the modern economy that determines the levels of these variables. The course also examines questions relating to government use of various policy instruments in attempts to achieve goals relating to full employment and price level stability. 

Credits

3

Prerequisite

MATH 106 or MATH 111 or higher level math course (recommended)

Offered

Spring

Student Learning Outcomes

1. The students will have a basic understanding of economic foundation models.
2. The students will be able to explain the markets for labor and wages, unemployment and inflation.
3. The student will be able to explain the different aspects of GDP and the relationship to economic variables.
4. The students will be able to explain the differences between fiscal and monetary policy.
5. The student will be able to understand the impact of monetary and fiscal economic policies and impact on growth.
6. The students will be able to explain the political influences on economic and fiscal policy as well as global considerations.
7. The students will have an understanding of the role of domestic and global financial systems.
8. The students will be able to discuss the financial impact of short run economic and long term economic growth.
9. The students will be able to explain money, banking, interest rates, and the role of the Federal Reserve.
10. The student will be able to explain the role of international trade, exchange rates, and the impact on domestic and international economics.