ECON111 Principles of Economics - Macro

Department of Social & Behavioral Science: Economics

I. Course Number and Title
ECON111 Principles of Economics - Macro
II. Number of Credits
3 credits
III. Number of Instructional Minutes
IV. Prerequisites
V. Other Pertinent Information

This course meets the General Education requirement for Social Science.
This course meets the General Education requirement for Diversity.
This course meets the General Education requirement for Critical Thinking.

VI. Catalog Course Description
An introduction to the basic principles of economics, with emphasis upon macroeconomic theory and analysis. Among topics considered are the scope and nature of economics, ideology and structure of the American economy, national income and employment theory, business fluctuations, money and banking, fiscal and monetary policies, and economic growth.
VII. Required Course Content and Direction
  1. Course Learning Goals

    Students will:

    1. demonstrate knowledge of macroeconomic concepts and their importance in everyday life;
    2. analyze, synthesize, and apply macroeconomic concepts and principles [Critical Thinking];
    3. be aware of and sensitive to how economic trends and change affects diverse groups in society [Diversity];
    4. be knowledgeable about various methods of analysis employed in macroeconomics [Social Science];
    5. demonstrate an understanding of macroeconomic methods of analysis used to examine and evaluate group and individual attitudes and behavior in society [Social Science].
  2. Planned Sequence of Topics and/or Learning Activities

    1. Introduction to Economics
      1. Scarcity and the Allocation of Resources
      2. Economic Systems
      3. Production Possibilities Frontier
      4. The Market System
    2. The Macroeconomy
      1. Measuring the National Economy and Its Effect on Diverse Groups in Society
        1. National Income Accounting
        2. Price Indexes
        3. Unemployment Rates and the Labor Force
      2. Macroeconomic Problems and Their Effect on Diverse Groups in Society
        1. Business Fluctuations
        2. Inflation
        3. Unemployment
      3. Macroeconomic Theory
        1. Aggregate Demand
          • Long Run
          • Short Run
        2. Aggregate Supply
          • Long Run
          • Short Run
      4. Fiscal Policy
        1. Instruments
        2. Applications
    3. Money, Banking, and Monetary Policy
      1. The Money Supply
      2. The Banking System
      3. Monetary Theory
      4. The Federal Reserve and Monetary Policy
    4. The Budget Process
      1. Constructing the Budget
      2. Deficits and Surpluses
      3. National Debt
    5. Economic Growth
      1. Nature and Determinants of Growth
      2. Productivity and Technology
      3. Economics of Development
    6. International Economics
      1. International Trade
      2. International Finance
  3. Assessment Methods for Course Learning Goals

    Course learning goals are assessed with in-class exams, electronically administered exams, essays, written assignments, multi-media projects, and/or participation in classroom/online discussions.
  4. Reference, Resource, or Learning Materials to be used by Student:

    See course syllabus.

Review/Approval Date - 1/04; Core Goals/Objectives added 2/07; New Core 8/2015