Course

Course Summary
Credit Type:
Course
ACE ID:
SAYA-0006
Organization's ID:
ECON102
Organization:
Saylor Academy
Location:
Classroom-based
Length:
134 hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Macroeconomics or Economics
Description

Objective:

The course objective is to introduce students to the principles of macroeconomics. Macroeconomics is the study of how a country's economy works while trying to discern among good, better, and best choices for improving and/or maintaining a nation's standard of living and level of economic and societal well-being. The course focuses on public policies helping and hindering the achievement of intended outcomes, such as reducing unemployment or increasing trade.

Learning Outcomes:

  • Describe and differentiate among full employment and unemployment, the three forms of unemployment, and the two forms of inflation
  • Describe the relationship between inflation and unemployment
  • Explain the model of aggregate demand and aggregate supply
  • Analyze a government's roles in the economy
  • Evaluate how a government uses its fiscal policy and monetary policy to influence key variables in order to achieve economic growth, price stability, full employment, and other goals
  • Articulate the roles of individual banks and the entire banking system in creating money
  • Explain the money multiplier the process of interest rate determination
  • Evaluate the net gains arising from international trade
  • Discuss key macroeconomic concerns, including national income accounting, saving and investment, and market forces
  • Describe the determinants of total output and the ways to measure nominal Gross Domestic Product (GDP) as well as real GDP
  • Explain different ways of computing the general movement in prices
  • Describe the mechanics of money supply in detail
  • Identify different types of money
  • Discuss the role of the Federal Reserve System and its tools of monetary policy

General Topics:

  • Supply and demand, equilibrium, movement along the supply and demand curves, curve shifts
  • Macroeconomic goals
  • Approaches to GDP, calculating GDP, differentiating and using nominal and real GDP, use of GDP
  • Unemployment and unemployment rate: causes, types, calculations and applications
  • Inflation and inflation rate: causes, calculations, and applications, including stagflation
  • Classical and Keynesian approaches to unemployment and inflation
  • Business cycle, economic growth, recession, depression
  • Aggregate demand and aggregate supply
  • Short-run and long-run equilibrium
  • Economic indicators
  • Fiscal policy
  • Budget deficit and surplus
  • National debt
  • Monetary policy and the role of the Federal Reserve
  • Money: types, money, money multiplier
  • International trade: foreign exchange market, quotas, tariffs, net exports
  • Absolute and comparative advantage
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials