Introduction to macroeconomics; elementary analysis of the determination of income through national income accounting. Covers macroeconomic issues including inflation, unemployment, economic growth, recessions, monetary/fiscal policy, and international trade and finance.
Outcomes
- Explain the circular flow model and use the concepts of aggregated demand and aggregate supply to analyze the response of the economy to disturbances.
- Explain the concept of short run and long run macroeconomic equilibrium.
- Explain the concepts of gross domestic product, inflation and unemployment, and how they are measured.
- Identify the causes of prosperity, growth and economic change over time and explain the mechanisms through which these causes operate in the economy.
- Define fiscal and monetary policies and how these affect the economy.
Prerequisites
ECON& 201, MATH 098, and ENGL& 101 is recommended.
Distribution
General Education
Area of Study
General Education