This course provides the student with a means to study economic principles as they relate to determinants of national income, national income accounting, business cycles, unemployment, inflation and aggregate expenditures. The course also examines macroeconomic policy and provides information to gain further understanding in the areas of fiscal policy, financial markets, money and banking, monetary policy, international policy and the varying viewpoints that have evolved throughout history, including the Keynesian and Monetarist schools of thought.
- Explain the concepts of Supply and Demand
- Compare Keynesian and Classical Theories
- Explain the concepts of the Invisible Hand, Specialization and Comparative Advantages
- Measure national income and national output
- Identify consumer spending behaviors
- Explain the behavior of the firm
- Examine the government's impact on the economy
- Explain the Federal Reserve system and its control of the money supply
- Demonstrate the links between the goods market, the resource market and the money market.
2. Critical Thinking
5. History and the Social and Behavioral Sciences