ECON C175: Principles of Macroeconomics
| Item | Value |
|---|---|
| Top Code | 220400 - Economics |
| Units | 3 Total Units |
| Hours | 54 Total Hours (Lecture Hours 54) |
| Total Outside of Class Hours | 0 |
| Course Credit Status | Credit: Degree Applicable (D) |
| Material Fee | No |
| Basic Skills | Not Basic Skills (N) |
| Repeatable | No |
| Grading Policy | Standard Letter (S),
|
| Local General Education (GE) |
|
| California General Education Transfer Curriculum (Cal-GETC) |
|
| Intersegmental General Education Transfer Curriculum (IGETC) |
|
| California State University General Education Breadth (CSU GE-Breadth) |
|
Course Description
Formerly: ECON C180. This course examines and analyzes the economic problem of productivity, recession, unemployment, and inflation. The focus of this investigation centers on business cycles, the measurement of output and income in the economy, the determination of the equilibrium level of national income in the economy, money creation and the banking system, monetary and fiscal policy options, international trade and finance, and the effects of the public debt. The particular interactions of the domestic and international economies are studied throughout the course. PREREQUISITE: A course taught at the level of intermediate algebra or appropriate math placement. Transfer Credit: CSU; UC: Credit Limitations: no credit for ECON C110 if taken after ECON C170 or ECON C175. C-ID: ECON 202.C-ID: ECON 202.
Course Level Student Learning Outcome(s)
- Apply fundamental economic concepts and standard economic models to explain the interaction of the major components of the American macroeconomy regarding relevant macroeconomic issues - i.e., output, employment, growth, inflation, and stabilization policy - in both the short and long run.
- Select appropriate models, concepts, and methods of analysis to apply to quantitative and qualitative problem situations while communicating the economic logic upon which the solution is based.
Course Objectives
- 1. Explain the fundamental question of economics: making choices within an environment of limits.
- 2. Demonstrate how to use graphs and models to represent different types of economic behavior, including forces that cause shifts in demand and supply.
- 3. Perform cost/benefit analysis.
- 4. Using diagrams and written explanation, analyze different types of market conditions.
- 5. Identify the consumption function and the savings function, and explain what each of the variables within the functions represent.
- 6. Use aggregate demand (AD) and aggregate supply (AS) curves to analyze different conditions and their impacts upon the economy.
- 7. Explain how investment, consumption, and government expenditure affect the national income of the economy.
- 8. Identify sources of fiscal and monetary policy tools, and explain when policy actions would be appropriate.
- 9. Identify the critical variables affecting the growth rate, price levels, and employment levels of the economy.
- 10. Given appropriate data, compute the comparative advantage between trading partners and the terms of trade, and explain how the foreign trade market is interrelated within the world economy.
Lecture Content
National income accounting Gross Domestic Product (GDP), Net Domestic Product (NDP), National Income (NI), Personal Income (PI), and disposable income. Price indexes (PI) Business cycles (to articulate the role of the international economy as an integral part of topic) Unemployment Inflation Recession Analysis of the macro economy (to articulate the role of the international economy as an integral part of the topic) The Classical and Keynesian approaches The macro model (Algebraic determination of national income levels and changes used extensively) Fiscal policy Taxes Government spending Deficits (public choice considerations articulated) Money Banks The banking system Monetary policy (articulates the role of the international economy as an integral part of the topic) Monetary and fiscal policies Integrated and applied to contemporary economic problems. International trade and finance The role of the international economy International development Transitional economies
Method(s) of Instruction
- Lecture (02)
- DE Online Lecture (02X)
Instructional Techniques
Instruction will combine a variety of elements to meet student needs. Course materials will be presented using multiple methods including instructor-created resources, PowerPoints, study tips, and practice quizzes. The instructor will interact with the students through Socratic discussions and the use of small-group activities. Wherever possible the instructor will utilize technology to enrich the learning experience with audio and visual aids. Contact with the instructor will take place in the classroom, during scheduled office hours, and by the use of Canvas messages and e-mail.
Reading Assignments
Reading assignments may include but are not limited to reading the textbook, journal articles, news articles, or other reading sources as determined by the instructor.
Writing Assignments
Writing assignments may include but are not limited to short-answer exams/quizzes, essay exams/quizzes, a paper, written analysis of a reading assignment, and written analysis on a problem set. Writing assignments may be combined with a reading assignment.
Out-of-class Assignments
Outside of class assignments may include but are not limited to problem sets, take-home assessments, essays, and papers. Out-of-class assignments may be combined with a reading assignment or a writing assignment.
Demonstration of Critical Thinking
Application of economic theory and tools to analyze the current U.S. and world economies.
Required Writing, Problem Solving, Skills Demonstration
Use of economic equations as they apply and relate to public issues to explain the problem and explain proposed solutions. Use of economic tools such as basic graphing of problems and solutions.
Eligible Disciplines
Economics: Masters degree in economics OR bachelors degree in economics AND masters degree in business, business administration, business management, business education, finance, or political science OR the equivalent. Masters degree required.
Textbooks Resources
1. Required Greenlaw, S., Shapiro, D.. Economics, 2e ed. OpenStax, 2022 Rationale: -
Other Resources
1. Coastline Library 2. Wall Street Journal 3. Business Week 4. The Economist