ECN 2025H Principles of Macroeconomics Honors

(B) Bachelors
Huizenga School of Business
(B-UG) HCBE - Undergraduate
3 credits

This course is designed to acquaint the student with the tools and methodology utilized by economists to analyze how the macro economy functions in both the short and long terms. The course will begin with a study of how market systems and nonmarket systems address the problem of scarcity and unlimited wants. Theories of consumption, investment, the public sector and foreign trade will be developed to illustrate their role in determining the levels of output, employment and prices in both a closed and open economy. The role of Fiscal and Monetary Policies and their short and long run impacts as well as supply side economic theories will be followed by the study of investment in Human and Physical Capital and how these investments influence economic growth and development. The course will conclude with the study of international trade and finance and their impact on the domestic economy. This course is open to HONORS students only. Prerequisites: MATH 1040 or higher. (Description Last Updated: Fall 2014 (201520))

Learning Outcomes

  1. Understand the forces that have shaped the U.S. economy over time.
  2. Discuss the tradeoffs involved in economic decision making and how societies evaluate and rank these tradeoffs.
  3. Analyze factors that influence consumer and producer decisions in the marketplace and how changes in these factors may influence the levels of output, employment and prices.
  4. Articulate how private sector decisions influence economic outcomes.
  5. Explain the rational for a public sector.
  6. Discuss the relative advantages and disadvantages of government in influencing economic activity.
  7. Describe how economic activity is measured and the flaws inherent in these measures.
  8. Explain the various theories of the business cycle, inflation and unemployment.
  9. Describe the difference between automatic stabilizers and discretionary fiscal policy.
  10. Explain the role the Federal reserve and Monetary Policy play in determining the level of economic activity.
  11. Articulate the differing positions economists have taken during the twentieth century on how best to influence economic activity.
  12. Discuss the factors necessary for achieving sustained economic growth in developed and developing economies.
  13. Present and defend arguments relative to what changes are necessary for the U.S. economy to remain competitive in the ever-changing global environment.
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Future Course Offerings (Subject To Change)
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Page Update June 28, 2017 06:36 AM