ECON 20201 - Introduction To Macroeconomics

Measurement and explanation of total economic performance; money and monetary and fiscal policy as an analytical core. Individual sections apply this core to a variety of current economic problems such as inflation, recession, and unemployment.

Preparation for Course
P: ECON 20101 with grade of C- or better.

Cr. 3.
Notes
Indiana Core Transfer Library course.
Student Learning Outcomes
1. Understand macroeconomics goals and why they are important.
2. Know and understand the relevance of the Gross Domestic Production (GDP).
3. Distinguish between the different phases of the business cycle as they relate to GDP.
4. Explain why Economic Growth is important to the overall economy and how it relates to the labor market.
5. Understand the relevance of how the labor market and the unemployment and employment rates are calculated and the implications of each.
6. Know the difference between inflation and the breeding ground for inflation.
7. Understand how the Income-Expenditure Model can be used to understand changes in GDP.
8. Know how fiscal policy can be used to promote economic growth.
9. Use the Aggregate Demand-Aggregate Supply Model to understand recessionary and inflationary gaps.
10. Know how the banking system creates money through the lending process.
11. Understand Monetary Policy and how Monetary Policy affects the overall economy through the banking system.
12. Understand government budgets, government debt, and government deficits, and how fiscal policy relates to each.