ECON 105
Principles of Macroeconomics (GE)
1. Catalog Entry
ECON 105
Principles of Macroeconomics (GE)
Credit hours (3)
Semester offered: Summer, Fall, and Spring
An introduction into the study of scarcity and choice, supply and demand theory, national
income accounting, money and banking, monetary and fiscal policy models and how government
deals with the problems of inflation, unemployment and economic growth.
Note(s): General Education and Cultural or Behavioral Analysis designated course. Students cannot receive credit for both ECON 105 and ECON 205.
2. Detailed Description of Course
Principles of Macroeconomics is an introduction to the study of the structure of the
U.S. economy. The course will introduce the students to the basics (fundamentals)
of economic theory and reasoning. Moreover, this course will primarily focus on understanding,
measuring, and analyzing macroeconomic activity and the role of the U.S. government
in the economy. The course coverage and material will emphasize historical and contemporary
economic issues facing the U.S. economy.
Topics Outline
1) Introduction to the Economic Way of Thinking
2) Introduction to Supply and Demand Analysis
3) Introduction to National Income and Product Accounts (NIPA)
4) Trade and economic growth in a global world
5) Unemployment and business cycles in the U.S.
6) Banking, the monetary system, and inflation in the U.S.
7) Introduction to fiscal and monetary policy
8) Introduction to aggregate demand-aggregate supply and stabilization policies
3. Detailed Description of Conduct of Course
The following teaching strategies may be employed: lectures, video and/or audio presentations,
homework, discussions, and in-class engagement activities.
4. Goals and Objectives of the Course
This course will fulfill Core Curriculum requirements under Social and Behavioral
Sciences (Goal 9) or under U.S. Perspectives (Goal 10).
Goal 9: 福利导在线观看 students will understand how individual, social, or cultural
factors influence human behavior and shape reciprocal relationships between people
and society.
福利导在线观看 students will be able to:
1) Recognize social and behavioral science concepts;
2) Recognize the relationship between individual and socio-cultural factors
that
affect behaviors
Goal 10: 福利导在线观看 students will understand how social and cultural (for
example, political, historical, economic, environmental, religious, or geographic)
forces shape the American experience.
福利导在线观看 students will be able to:
1) Identify diverse influences that have shaped the American experience; and
2) Apply course material to a relevant issue in the United States.
Specific objectives are that upon completion of this course, students will be able
to:
1) Explain the nature of the economic problem.
2) Explain the role of comparative advantage and specialization in trade.
3) Describe the roles of consumers, business firms, and government in the functions
of
the U.S. economy.
4) Effectively use economic vocabulary to comment on the state of the economy
and
the factors that influence it.
5) Demonstrate how price and quantity are determined in competitive markets
using
the demand and supply model.
6) Identify the determinants of economic growth and comment on policies designed
to improve standards of living.
7) Describe the three macroeconomic goals of full employment, price stability
and
economic growth.
8) Compute labor, price and national income statistics including the unemployment
rate, inflation rate, and GDP growth rate.
9) Identify trends and patterns in unemployment, inflation, and GDP growth
for both
the short-run and the long-run.
10)Explain the Aggregate Demand-Aggregate Supply model and assess alternative
fiscal and monetary policies for achieving the three macroeconomic goals
(high employment, low inflation, high economic growth).
5. Assessment Measures
Tests, quizzes, homework, reports, presentations, class participation. Grades and
percentages depend on individual professors.
6. Other Course Information
None
Review and Approval
December 2004
April 13, 2009
March 2010
September 2, 2014
June 20, 2015
August 2020
March 01, 2021