COURSE DESCRIPTION

Introduces macroeconomics including the study of Keynesian, classical, monetarist principles and theories, the study of national economic growth, inflation, recession, unemployment, financial markets, money and banking, the role of government spending and taxation, along with international trade and investments. Lecture 3 hours per week.
 

GENERAL COURSE PURPOSE

This course is designed to introduce the body of economic knowledge so that students may learn about the operation of the U.S. economy, and gain a better understanding of current issues and problems that affect everyday lives.
 

ENTRY LEVEL COMPETENCIES

No prerequisites required for this course. The student must be literate in English and competent in fundamental arithmetic computation.
 

COURSE OBJECTIVES

Upon completion of the course, the student will be able to:

A. understand the accepted body of principles which are the foundation of economic thought

B. understand the operation of the American economic system

C. use conceptual tools and analysis to interpret the measures and objectives of national economic policies

D. assume a role as a well-informed citizen in the community

E. take higher level economics courses at four-year institutions

MAJOR TOPICS TO BE INCLUDED

• national income accounting
• the business cycle: unemployment and inflation
• saving, consumption, and investment
• economic growth
• equilibrium income determination
• differing views relating to macroeconomic theory


C. Fiscal Policy
 

• discretionary and automatic fiscal policy
• federal budget issues
• national debt issues


D. Monetary Economics and Stabilization Policies
 

• money and banking in American capitalism
• the Federal Reserve System
• the economics of monetary policy
• alternative economic stabilization policies


E.  International Economics
 

• the economics of international trade
• exchange rates and balance of payments