Course

Course Summary
Credit Type:
Course
ACE ID:
OOSL-0007
Organization's ID:
ECON101
Organization:
Location:
Online
Length:
14 weeks (75 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Macroeconomics
Description

Objective:

The course objective is to provide a comprehensive overview of the American economic system, exploring private enterprise, the role of government, and core principles of modern economics. Students will examine aggregate equilibrium (supply and demand), national income measurement and theory (inflation rate, unemployment rate, economic growth, and other measures of economic health), fiscal and monetary policy, the monetary and banking system, and issues of economic instability, gaining a foundational understanding of the forces shaping economic outcomes and policy decisions.

Learning Outcomes:

  • Define basic economic terminology and concepts including the effects of scarcity and choices, and the role of rational self-interest
  • Explain the concepts of specialization, absolute advantage, and comparative advantage
  • Analyze the key macroeconomic indicators used to measure the performance of the aggregate economy including output, price level, and employment
  • Utilize the aggregate demand and aggregate supply model to explain the amount of goods/services produced, the level of unemployment, and price level
  • Define and analyze the cause and effect of inflation, including the concepts of demand-pull and cost-push inflation, anticipated and unanticipated inflation, and the meaning and effects of hyperinflation
  • Define money, banking, and monetary policy and explain their impact on the macroeconomy
  • Define fiscal policy, budget deficits, and the national debt and explain their impact on the macroeconomy
  • Explain monetary policies of the U.S. financial system, including the nature and functions of money and money supply; the features and functions of the Federal Reserve System; and the tools used by the Federal Reserve to control the money supply

General Topics:

  • Introduction and Getting Started
  • Economic Thinking
  • Comparative Advantage
  • Macroeconomics–Bird’s Eye View of the Economy
  • Measuring Economic Activity
  • Midterm Exam
  • Measuring The Price Level and Inflation
  • The Labor Market Workers, Wages, and Unemployment
  • Money, Prices, and the Federal Reserve
  • Financial Markets and International Capital Flows
  • Short-Term Economic Fluctuations: An Introduction
  • Stabilizing the Economy: The Role of the Fed
  • Aggregate Demand, Aggregate Supply, and Inflation
  • Review and Final Exam
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials

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