Dec 02, 2023
ECON 103 - Principles of Macroeconomics
A study of the determination of levels of national income, employment, prices and basic causes of fluctuation of these levels.
Student Learning Outcomes
- Explain the notions of scarcity, opportunity cost, and resource allocation.
- Explain how supply and demand operate in a market economy to address issues of resource allocation.
- Understand why economic growth, high employment, and price stability are major macroeconomics concerns.
- Demonstrate an understanding of the relationship between income, GDP, and employment.
- Understand the various forms of unemployment and the resulting economic consequences.
- Understand inflation and its various forms and the affect upon the consumer.
- Understand and demonstrate knowledge of the macroeconomic equilibrium of aggregate supply and demand and differentiate between long and short run AS and AD curves.
- Understand and demonstrate knowledge of the nature of the U.S. banking system and its relation to the conduct of monetary policy.
- Demonstrate and understand fiscal policy and its relationship to monetary policy.
Prerequisite: MATH 124 or MATH 124E
Graded: Letter Grade
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