Course

Credit Type:
Course
ACE ID:
SOPH-0012
Version:
3
Organization's ID:
ECON1001
Organization:
SOPHIA Learning, LLC
Location:
Online
Length:
Self-paced. Students have 60 days with a 30 day extension (if needed) to complete the course
Minimum Passing Score:
70
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Introduction to Macroeconomics, Principles Of Macroeconomics, or Fundamentals Of Macroeconomics
Description

Objective:

The course objective is to explore and interpret the behavior of economies and countries at both national and international levels. Through this exploration, students will learn how to evaluate decisions on monetary and fiscal policy. Students will also learn how to apply conceptual principles of macroeconomics in practical ways to everyday life.

Learning Outcomes:

  • Describe economics
  • Articulate market efficiency
  • Analyze monetary, money, and financial systems
  • Interpret international trade and aggregate demand and supply, prices and growth

General Topics:

  • An overview of economics
  • Circular flow diagram
  • Economic growth (GDP)
  • Types of GDP
  • Business cycles--expansionary/recessionary (NBER)
  • Monetary policy/fiscal policy
  • Supply and demand
  • Tax/subsidy
  • Money supply - price level / inflation
  • International trade
  • Shifts in supply
  • Consumer and producer surplus
  • Impact of price on quantity supplied/demanded
  • Deadweight loss
  • Gold standard
  • Fractional gold standard/fiat currency
  • U.S. Central Bank: Federal Reserve
  • Open market operations
  • Federal funds market
  • Expansionary/contractionary policy and the multiplier effect
  • Funding fiscal policy
  • Analyze trade barriers
  • Understanding indicators
  • PPI/CPI/deflator
  • Labor force participation rates by gender
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Case Studies
  • Computer Based Training
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes
Supplemental Materials
Equivalencies

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