ECO 201 - Principles of Macroeconomics

Course Description

This principles level course provides an in-depth overview and analysis of macroeconomic theory and concepts; and applies them to the contemporary economic issues, problems, and policies in the United States and other economies. Topics include the nature and scope of economics; national income accounting; government revenues, expenditures, and national debt; unemployment, inflation, and interest rates; economic growth; and monetary, fiscal and international trade policies. Group 1 course.

Credit Hours

3

Contact Hours

3

Lecture Hours

3

Recommended Prerequisites or Skills Competencies

MTH 100, placement into ENG 111. It is recommended that students take ECO 201 before ECO 202.

General Education Outcomes supported by this course

Critical Thinking - Direct

Other college designations supported by this course

Degree Req:Cultural Persp/Div

Course Learning Outcomes

Knowledge:
  • Explain the basic theoretical framework of macroeconomics including the primary concepts of market forces, supply and demand, and government intervention in an economy.
  • Describe the concepts of gross domestic product, inflation, and international trade.
Application:
  • Analyze variables such as government spending and interest rates that determine the outcomes of macroeconomic policies.
  • Examine economic mobility in terms of gains and/or losses to individual consumers, producers, and society.
  • Evaluate the outcomes of the applications of macroeconomic theory and economic policies enforced by various public institutions such as the U.S. President/Congress, the Federal Reserve System, or the European Central Bank.
Integration:
  • Construct and apply qualitative macroeconomic models.
  • Relate macroeconomic concepts including inflation, income and employment, market forces, and the distribution of wealth to the impact such concepts have on different societies in the world.
  • Analyze, evaluate, forecast, and adjust the measurable outcomes of the models of macroeconomic theory.
  • Correlate the global interdependence of fiscal and monetary policies, the global labor pool, and the world-wide mobility of capital/labor.
Human Dimension:
  • Collaborate effectively with team members.
  • Develop interpersonal communication, self motivation, and self reflection skills.
Caring - Civic Learning:
  • Recognize the value of displaying a high level of professionalism.
  • Recognize the value of developing an unbiased approach to problem solving.
  • Develop an empathetic attitude, humbleness, wisdom, emotional stability, and rationality.
Learning How to Learn:
  • Take responsibility for developing the skill of autonomy while exploring, evaluating, and analyzing contemporary worldwide macroeconomic factors.