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Dec 03, 2024
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MS 322 - Macroeconomics3 lecture hours 0 lab hours 3 credits
Course Description
This course outlines and analyzes the application of the principles of economics to modern business and the economic environment. Topics include measuring and understanding GDP, unemployment and business cycles, national debt and the role of government as expressed in macroeconomic theory from the classical to the supply side. Monetary and fiscal policy efforts to promote employment, price stability and economic growth are reviewed. (prereq: None)
Course Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Demonstrate an understanding, usage, and application of basic Macroeconomic concepts and principles
- Describe methods of calculating price indices, Gross Domestic Product, Real GDP, and unemployment rates
- Describe the structure of the Federal Reserve System and its tools for controlling the money supply in a fractional reserve banking system
- Demonstrate an understanding and ability to use a basic macroeconomic model for predicting the direction of macroeconomic activity
- Demonstrate an understanding of fiscal and monetary policy and how policy changes can potentially affect the economy
Prerequisites by Topic
Course Topics
- Foundation of economic thinking and basic concerns of macroeconomics (4 classes)
- Price indices, labor force measurements, unemployment measures, gross domestic product measures, inflation, deflation (8 classes)
- Money, the money supply, fractional reserve banking systems, monetary systems and central banks and the Federal Reserve System (8 classes)
- A simple Macroeconomic Model of Aggregate Demand/Aggregate Supply, with and without price and wage flexibility, and the Keynesian multiplier (8 classes)
- Fiscal and Monetary Policy, the international sector (2 classes)
Coordinator
Kenneth Dobbs
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