Determinants of national output, employment, and price level; inflation and unemployment; fiscal and monetary policy.
This course is designed as an introductory survey of economy-wide phenomena such as inflation and unemployment, as well as determinants of national output, employment, and the general price level. The role of monetary and fiscal policy will be surveyed and applied via macroeconomic theory.
Upon completion of the course, the student should:
- identify the data and use the tools of macroeconomic policy;
- describe the costs and benefits of certain economy-wide phenomena such as inflation and unemployment;
- understand what determines a country's standard of living in the long run;
- evaluate public policy in an informed and objective manner;
- recognize the institutional surroundings that impact macroeconomic phenomena;
- further their analytical, research, and writing skills.
This course is approved for Validation by Education Experience (VEE) by the Society of Actuaries (SOA).
This course meets the All-University Core Curriculum (AUCC) requirements for Social/Behavioral Sciences (Category 3C) and is approved under gtPathways in the content area of Economic or Political Systems (GT-SS1).
This course can be applied toward:
MATH 117 (College Algebra in Context I) or MATH 118 (College Algebra in Context II) or MATH 141 (Calculus in Management Sciences) or MATH 155 (Calculus for Biological Scientists I) or MATH 160 (Calculus for Physical Scientists I); ECON 202 (Principles of Microeconomics) or AREC 202 (Agricultural and Resource Economics).
Prerequisites: college algebra, introductory microeconomics.