Course

Course Summary
Credit Type:
Course
ACE ID:
UPIS-0017
Organization's ID:
Economics 252
Organization:
Location:
Online
Length:
65 Hours
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Macroeconomics
Description

Objective:

The course objective is for students to acquire a deep understanding of fundamental macroeconomic principles and theories, equipping them with the knowledge and analytical skills necessary for economic analysis and decision-making. They will explore core concepts such as economic scarcity, opportunity costs, production possibilities, and the dynamics of supply and demand. Through real-world applications and critical thinking exercises, students will develop practical insights into international trade, market equilibrium, and the impact of economic shocks. By the course's conclusion, students will possess a strong foundation in macroeconomics, preparing them for further studies or careers in economics and related fields.

Learning Outcomes:

  • Apply key economic concepts such as opportunity cost, supply and demand, and equilibrium to practical and global economic situations, including international trade and specialization.
  • Analyze and evaluate economic shocks and their consequences, utilizing economic data and indicators to assess and predict economic trends.
  • Develop and demonstrate strong problem-solving and critical-thinking skills in economic analysis, communicating complex economic concepts effectively.
  • Prepare for advanced studies or careers in economics and related fields, applying economic reasoning to both global economic issues and personal financial decision-making.
  • Engage in informed discussions on macroeconomic issues, recognizing and addressing global economic challenges with a well-rounded macroeconomic perspective.
  • Acquire and articulate a comprehensive understanding of macroeconomic principles and theories, emphasizing their relevance in contemporary economic scenarios.
  • Understand and critically assess the role of government policies and macroeconomic policies in shaping economic outcomes and their societal impacts.

General Topics:

  • Economic Scarcity, Choice, and Opportunity Cost
  • Comparative Advantage: Definition and Examples
  • Market Demand Schedule
  • Circular Flow of Economic Activity: The Flow of Goods, Services & Resources
  • Consumer Price Index: Measuring the Cost of Living and Inflation
  • Defining and Measuring the Unemployment Rate
  • The Keynesian Model and the Classical Model of the Economy
  • Real Output, Price Level and the Real Gross Domestic Product
Instruction & Assessment

Instructional Strategies:

  • Case Studies
  • Computer Based Training
  • Lectures

Methods of Assessment:

  • Examinations
  • Quizzes
  • Written Papers

Minimum Passing Score:

70%
Supplemental Materials