Revised 1/2012

ECO 245 - Contemporary Economic Issues (3 CR.)

Course Description

The course provides an overview of economic issues from a policy-oriented perspective. It would focus on analyzing current economic problems and policy options and debates on fostering economic growth and development in a global economy. 3 lecture hours per week.

General Course Purpose

This course is designed to introduce the body of economic knowledge so that students may learn about the growth and development of the global economy and gain a better understanding of current economic issues and problems that affect our everyday lives.

Course Prerequisites/Corequisites

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

Course Objectives

Upon completing the course, the student will be able to:

• Understand the issues relating to growth and development of the global economic system.
• Learn and use conceptual tools to analyze current economic issues.
• Understand how economic events affects financial markets and how it influences the decisions of policymakers
• Learn how to use and interpret macroeconomic data.
• Understand how to think analytically, using economic theory to solve problems.
• Assume a role as a well-informed citizen in the community,
• Take higher level economics courses at four-year institutions
• Contribute to current economic policy debates in a constructive fashion.

Major Topics to Be Included

• Measuring and issues relating to National Output, Unemployment and Inflation
• Monetary Policy and Fiscal Policy : Goals and Trade-offs
• Economic interdependence - Financial and foreign exchange markets
• The design of trade and industrial policies
• Role of the international multilateral institutions like the World Bank, IMF, WTO etc
• International regional and bilateral trade agreements.
• Issues relating to present day financial crisis and increasing role of sovereign debt in present day
• global economy