Course Description
Explanations of economic growth and the business cycle, aimed at shedding light on economy-wide problems such as inflation and unemployment, with special attention to the role played by monetary and fiscal policies.
Athena Title
Principles of Macroeconomics H
Equivalent Courses
Not open to students with credit in ECON 2105, ECON 2105E
Prerequisite
Permission of Honors
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Student Learning Outcomes
- Students will be able to analyze opposing views on government intervention in the economy, as supported by different macroeconomic schools of thought.
- Students will be able to identify and assess possible sources of bias in macroeconomic measures.
- Students will be able to consider the pros and cons of using macroeconomic statistics like GDP or unemployment to characterize quality of life.
- Students will be able to use supply and demand models to analyze cause-effect patterns graphically and numerically.
- Students will be able to calculate key macroeconomic statistics using raw data.
- Students will be able to apply relevant economic theories to predict the long- and short-run effects of changes to monetary and fiscal policy.
- Students will be able to analyze whether the pursuit of self-interest can promote the social interest.
- Students will be able to discuss the social and ethical considerations involved in the pursuit of efficiency versus equality.
- Students will be able to characterize the ways in which today’s economic choices can help or hurt future generations.
Topical Outline
- Overview of Economics
- Supply and Demand
- Markets
- Measuring Production and the Standard of Living
- Employment and Unemployment
- Price Levels
- Economic Growth
- Investment, Saving, and Interest Rates
- The Monetary System
- Economic Fluctuations
- Monetary Policy
- Fiscal Policy
- Global Economics: Trade and Finance
General Education Core
CORE V: Social Sciences
Institutional Competencies
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
Critical Thinking
The ability to pursue and comprehensively evaluate information before accepting or establishing a conclusion, decision, or action.
Social Awareness & Responsibility
The capacity to understand the interdependence of people, communities, and self in a global society.
