Course Description
Students will study the nature and method of macroeconomics and the fundamental operations of the American economy, interpret national income information and study forces which determine levels of production and employment. Students also will study monetary and fiscal controls and the impact of government on the U.S. economy. IAI: S3 901.
Prerequisite(s)
ENGL 1422 with a grade of C or better or appropriate assessment score - Must be taken either prior to or at the same time as this course. MATH 1424 with a grade of C or better or appropriate assessment score, or STEM pathway of transitional math - Must be completed prior to taking this course.
At the end of this course, students will be able to:
- Define the features of the economic perspective
- Explain how the market system determines what to produce, how to produce it, and who obtains it
- Explain how changes in supply and demand affect equilibrium prices and quantities
- Explain how gross domestic product (GDP) is defined and measured
- Identify the general supply, demand and efficiency forces that give rise to economic growth
- Explain the types of unemployment and inflation and their impact on an economy
- Distinguish between fiscal and monetary policy and their impact on an economy
- Analyze the impact of exchange rates on trade deficits