ECO 2401: Principles of Macroeconomics

Description

Macroeconomics involves issues of the overall economic performance of a nation, rather than those of particular individuals or firms. Macroeconomics, unlike microeconomics’ analysis of individual firm and person level, deals with totals, or aggregate measures of the economy, like national income or average unemployment rates, rather than differences among individuals. Macroeconomics asks how economic aggregates are determined, why problems related to aggregate economic performance occur, and what government can and should do about such problems. In this course, students will learn that the main goal of macroeconomics is to gain a better understanding of the causes of, and remedies for, unemployment and inflation, as well as the factors that affect economic growth (unemployment, inflation, and economic growth) in both a national and international context.

Outcomes

  1. Define market prices and the role of supply and demand in determining prices and quantities of goods and services.
  2. Examine the effects of unemployment and inflation on the economy.
  3. Discuss the interaction of the Federal Government and the Feder al Reserve Bank in controlling the economy.
  4. Construct the aggregate expenditure and demand model of the macro economy.
  5. Recognize resource scarcity and opportunity cost as the central economic problem.
  6. Illustrate monetary theory using the money supply and demand model.
  7. Discuss various national economic indicators and how each relates to economic growth.
  8. Analyze the international economy through trade interdependences and financial interactions.

Prerequisites

None

Textbook(s)

ECON macroeconomics (Rev: 4)

Publisher: Cengage Learning (2015)
Author: McEachern, W. A.
ISBN: 9781285423623
Price: $54.56

* Disclaimer: Textbooks listed are based on the last open revision of the course. Prior revisions and future revisions may use different textbooks. To verify textbook information, view the course syllabus or contact Student Services at students@waldorf.edu