ECON 161. MACROECONOMIC PRINCIPLES (3) - SPRING 2014
Prerequisite: ECON 160.
Time and Place: MW 12:30-1:45 PM, Johnson Auditorium
Office Hours: MW 11:00AM-12:00PM, F 12:00-12:30PM, or by appt.
Course Description: This course in Macroeconomics provides a common sense approach to economics, covering basic economic laws and how they apply to our world and everyday life. The course is designed to give students a basic grounding in the terminology, basic concepts, and issues of contemporary economic theory, with an emphasis on macroeconomics
Describe the market system using graphic presentations. Recognize and relate the future impact of the global economy upon our way of life. Identify and diagram the expenditure and income approaches to national income accounting, and evaluate the value of key economic statistics used in everyday life. Distinguish between various phases of the business cycle, documenting the characteristics of unemployment and inflation.
Review the concept of how best to stabilize the business cycle differentiating between the Classical and Keynesian approaches. Define and construct the Aggregate Supply and Demand Curves in an effort to formulate additional economic analysis. Review Keynesian economics via fiscal policy. Acquire additional knowledge concerning government spending, taxation, and national debt in an effort to stabilize the business cycle.
Describe the functions of money and its usage in establishing monetary policy.
Acquire knowledge of the Federal Reserve System and its functions in relation to the money supply. Identify and describe the tools of monetary policy in regard to the Federal Reserve System. Differentiate among the various schools of economic thought in regard to stabilizing the business cycle.
TEXT: Macroeconomics, McConnell & Brue, McGraw Hill, 19th ed. 2012.
Connect Access Code: as a stand alone item or bundled with the Macroeconomics book. This is the address to obtain the access code: