ECON& 202 Macroeconomics (5 credits)
Distribution Area Fulfilled Social Sciences; General Transfer Elective
Formerly ECON 213 - CCN
Course Description
The study of how the overall economy operates. Topics include unemployment, inflation, GDP, the business cycle, long run growth, fiscal policy, monetary policy, and international trade.
Course Content
A. unemployment
B. inflation
C. gross domestic product
D. fiscal policy, government spending, taxes, budget deficit/surplus
E. monetary policy, interest rates, Federal Reserve System
F. economic growth and the business cycle
G. international trade
Student Outcomes
1. Describe the goals of an economic system and the advantages and disadvantages of the market system.
2. Calculate and explain major macroeconomic measures, including nominal GDP, real GDP, price indices, and unemployment.
3. Use the aggregate demand and aggregate supply framework to explain the business cycle and long run growth.
4. Calculate and explain economic changes using macroeconomic multipliers.
5. Explain fiscal policy and how it can be used to influence GDP, unemployment, and inflation.
6. Explain the causes of budget deficits and describe the long run costs.
7. Define money and the Federal Reserve’s control over the money supply and interest rates to influence GDP, unemployment, and inflation.
8. Describe long run growth and the factors that influence the growth rate.
9. Analyze the impact of globalization on domestic and international economies.
Degree Outcomes
Social Sciences: Graduates analyze and interpret social phenomenon using social science theories and methods.
Critical, Creative, and Reflective Thinking: Graduates will evaluate, analyze, synthesize, and generate ideas; construct informed, meaningful, and justifiable conclusions; and process feelings, beliefs, biases, strengths, and weaknesses as they relate to their thinking, decisions, and creations.
Lecture Contact Hours 50
Lab Contact Hours 0
Clinical Contact Hours 0
Total Contact Hours 50
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