ECON 2201 Principles of Macroeconomics

Description

Principles of Macroeconomics studies the overall performance of the United States economy and comparative economic systems from the dimensions of full employment, price stability, and economic growth.

Credits

3

Topics to be Covered

1. Nature and Method of Economics

2. Economizing Problem

3. Supply and Demand

4. Private and Public sectors of the economy

5. International Trade

6. The Banking System

7. Alternative Views of Economic Theory

8. Income Inequality

Learning Outcomes

1. Discuss the basic economics models that explain such topics as scarcity, opportunity cost, production possibilities, and economic growth.

2. Examine the market demand and supply model, which has a wide range of realworld applications.

3. Define how to measure business cycles and examine unemployment.

4. Understand the Keynesian model along with aggregate demand and aggregate supply and how government spending and taxation policies affect deficits, surpluses, and the national debt.

5. Discuss the banking system, the Federal Reserve, and the money supply influence the economy.

6. Define the importance of free trade, exchange rates, and the debate over capitalism in advanced and developing countries.

Credit Details

Lecture: 3

Lab: 0

OJT: 0

MnTC Goal Area(s): Goal Area 05 - History and the Social and Behavioral Sciences

Minnesota Transfer Curriculum Goal Area(s) and Competencies

Goal Area 05 - History and the Social and Behavioral Sciences

1. employ the methods and data that historians and social and behavioral scientists use to investigate the human condition.

2. examine social institutions and processes across a range of historical periods and cultures.

3. use and critique alternative explanatory systems or theories.

4. develop and communicate alternative explanations or solutions for contemporary social issues.