SLO

ECON1: PRIN MACROECONOMICS

Course Description

Introduction to the principles of macroeconomic analysis, economic institutions, and economic policy; supply and demand, determinants and distribution of output, income, and welfare through the market system; international trade and globalization. Measurement, determinants of, and policies relating to long-run economic growth, business cycle fluctuations, unemployment, and inflation. This course has the option of a letter grade or pass/no pass. (C-ID: ECON 202) PREREQUISITE: MATH 430 or MATH 205

Learning Outcomes

Use the framework of supply, demand, consumer�s surplus, and producer�s surplus to show how changes in economic variables affect market outcomes.
Recognize and apply economic theory in everyday life.
Show, using graphs and or numerical examples, how specialization and exchange can increase well-being.
Use marginal analysis to make resource allocation decisions.
Identify and analyze the factors that contribute to economic growth and development.
Discuss the causes of business cycle fluctuations, and argue in favor of an appropriate policy response to a given situation.
Gather real-world data and identify the relationships between macroeconomic variables, such as GDP, the unemployment rate, and the rate of inflation.