Principles of Macroeconomics
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|Course Number:||ECONOMIC 2130|
|Course Name:||Principles of Macroeconomics (Online)|
|Course Description:||An introduction to basic economic principles with applications to current economic problems. Demand, supply and the role of prices in the U.S. economy are briefly surveyed followed by in-depth study of the national (or "macro") economy. Topics include unemployment, inflation and economic growth; theories of economic recession and prosperity; the role of money and banking in the economy; government taxing and spending policies to stabilize the economy; and the U.S. as part of the international economy.|
|Format:||Online (This course is also offered in print.)|
BS in Business Administration
BS in Criminal Justice
NOTE: The information below is representative of the course and is subject to change. The specific details of the course will be available in the Desire2Learn course instance for the course in which a student registers.
Macroeconomics 2130 is a course designed to help you understand decision making in our economy. Economics can help us explain everyday decision making. The decisions begin when we get up in the morning. What to wear for the day? Should we have breakfast in or eat out? Should I take mass transportation or my car to work? What type of computer to buy, and should I use the Internet to buy it? Should I quit my job today? All of the answers to the above questions can be explained by using economic analysis. When all of our individual decisions are taken together, we have effects on output, overall prices, and unemployment--and this is macroeconomics. Upon completion of Macroeconomics 2130, you will be able to do the following:
- Explain how national income is determined.
- Explain what factors determine the national unemployment rate.
- Explain factors that affect the inflation rate.
- Demonstrate tools that can be used to affect national income, unemployment rates, and the overall price level.
Unit 1 introduces the basic economic terms and concepts that will be used for the entire course. The economic problem is identified and discussed. Demand and supply is introduced with many applications for the economy. The material in Unit 1 will cover four chapters. It is designed to help you understand the market system.
Chapter 1 The Scope and Method of Economics
Chapter 2 The Economic Problem: Scarcity and Choice
Chapter 3 Demand, Supply, and Market Equilibrium
Chapter 20 Introduction to Macroeconomics
Macroeconomics deals with the aggregate economy. Total production of goods and services (GDP) for the nation is measured and the ability to produce more in the future (economic growth) are discussed in this unit. Unemployment and inflation are two other aggregate measures for the nation that are discussed. Finally, fiscal policy is introduced, along with a discussion of the money supply. The material in Unit 2 is designed to help you understand the critical thinking skills that allow economist to analyze a wide variety of social issues.
Chapter 21 Measuring National Output and National Income
Chapter 22 Unemployment, Inflation, and Long-Run Growth
Chapter 23 Aggregate Expenditure and Equilibrium Output
Chapter 24 Government and Fiscal Policy
Macroeconomics deals with the aggregate economy. Total production of goods and services (GDP) for the nation is measured and the ability to produce more in the future (economic growth) is discussed. Unemployment and inflation are two other aggregate measures for the nation that are discussed. Finally fiscal policy is introduced along with a discussion of the money supply. These issues were discussed in Unit 2. Unit 3 examines how the money supply is controlled by the Federal Reserve. The relationship between the money supply and GDP is examined. The material in Unit 3 is designed to help you understand the critical thinking skills that allow economist to analyze a wide variety of social issues.
Chapter 25 The Money Supply and the Federal Reserve System
Chapter 26 Money Demand and the Equilibrium Interest Rate
Chapter 27 Aggregate Demand in the Goods and Money Markets
Chapter 33 Debates in Macroeconomy: Monetarism, New Classical Theory, and Supply-Side Economics
Your final grade is based on total points accumulated from examinations, quizzes, discussions, and written activities. The textbook problems are worth five points each, unless otherwise noted. The course material is assigned the following values:
Exams: 300 points
Quizzes: 60 points
Discussions: 60 points
Learning Activities: 149 points
TOTAL: 569 points
The learning activities alone will not provide enough experience for most students to do well on the exams. The instructor encourages you to gain as much experience as possible by doing as many problems at the end of each chapter as time permits.
Exam questions will be similar to problems from the problem set at the end of each chapter. There will be five multiple-choice questions on each quiz. The multiple-choice questions will be similar to the multiple-choice questions that appear in the study guide.
Your grade in this course will ultimately be determined by the amount of effort you put into it.
A = 512 or above
B = 455-511
C = 386-454
D = 330-385
F = 329 and below
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