Course Description
This course is intended to provide students with a background in macroeconomic theory and analysis. First, students will gain an understanding of introductory economics and economic reasoning in the context of the contemporary global economy. Then, they will gain an understanding of the determination and measurement of National Income; the Price Level; Macroeconomic Problems of Unemployment, Inflation, and Business Cycles; Macroeconomic Models of the Aggregate Economy; the Financial System (Money, Banking, & Monetary Policy); Fiscal Policy; Budget Deficit & Government Debt. In the process, students will also discover how Productivity, Technological Change, & Global Competitiveness are related to each other and to business & the national economy. Overall, the course will provide students with a framework for decision-making in business, economic, and political arenas.

Student Learning Outcomes
After completing this course, the student will be able to:
• Understand economic reasoning and how it applies to decision-making.
• Understand the scientific method and how it is used in formulating economic principles.
• Explain the concepts of scarcity, opportunity cost, production possibilities, and the modeling of economic behavior (conceptually, quantitatively, and graphically).
• Understand the U.S. economy in the context of a global economy and the basic principles underlying world trade and finance.
• Evaluate and measure aggregate economic activity with a focus on Gross Domestic Product (GDP), inflation, unemployment, and the business cycle.
• Understand aggregate demand and aggregate supply analysis as a foundation for modern macroeconomic theory and the implications for fiscal policy.
• Understand money, the monetary system, fractional reserve banking, and the Federal Reserve System.
• Evaluate monetary policy and its impact on money markets and the macroeconomy.
• Gain the theoretical and practical understanding of macroeconomic principles necessary for further study in economics, management, finance, and related areas.

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