Jun 25, 2024  
2022-2023 Undergraduate Catalog 
2022-2023 Undergraduate Catalog [ ARCHIVED CATALOG VERSION ]

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ECON 102 - Principles of Macro Economics

Number of Credits: 3
Principles of Macroeconomics introduces students to concepts, theories and issues impacting the economy overall. Topics include: economic systems, scarcity and opportunity cost, supply and demand, unemployment and inflation, GDP and economic growth, fiscal and monetary policies, and international trade. Advanced Placement Exam (Macro Economics) and CLEP (Macro Economics) accepted Three hours lecture each week. Three Credits. Three billable hours.

GENERAL EDUCATION Category: Social and Behavioral Sciences

Pre-requisite(s): eligibility for ENGL 101 .
Course Objectives: Upon successful completion of this course, students will be able to:
  1. Communicate ideas in written, oral, and other modes through the application of modeling techniques and basic terminologies of macroeconomics (GE1, GE2, GE3, GE4, GE5).
  2. Explore basic principles of economics such as opportunity cost, factors of production, positive and normative economics (GE1, GE2, GE3).
  3. Build market supply and demand graphs indicating equilibrium, shortages, surpluses, and shifts (GE1, GE2, GE3, GE4, GE5, GE6).
  4. Explore the business cycle and the Circular Flow of Income, and the interactions of households, firms, and government (GE1, GE2, GE3, GE4, GE7).
  5. Explore macroeconomic indicators and measurement tools (GE1, GE2, GE3, GE4, GE5, GE6).
  6. Build aggregate supply and demand graphs showing short run and long run scenarios (GE1, GE2, GE3, GE4).
  7. Compare Macroeconomic Schools of Thought (GE1, GE2, GE3, GE4, GE5, GE6).
  8. Explore the Federal Budgetary Process, deficits and the national debt (GE1, GE2, GE3, GE4, GE5, GE6).
  9. Describe the role of money in the U.S and global economies, the hierarchy of banking systems, and the purpose and instruments of monetary policy (GE1, GE2, GE3, GE4, GE5, GE6, GE7).
  10. Explore Comparative Economic Systems (GE1, GE2, GE3).
  11. Analyze the determinants of economic growth(GE1, GE2, GE3, GE4).

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