Sep 28, 2021
ECON& 202 - Macro Economics Credits: 5
Introduces economic reasoning. Covers basic economic questions concerning economizing, competition and exchange. Also covers macroeconomics and questions relating to the determination of national income, output, employment and the price level.
Prerequisite: Eligible for ENGL& 101 and MATH 147 ; or instructor’s permission.
Satisfies Requirement: Social Science
Students who successfully complete this class will be able to:
- Describe how the Production Possibilities Model can be used to analyze economic problems.
- Define Gross Domestic Product and discuss how the Department of Commerce measures it.
- Discuss how the Bureau of Labor Statistics estimates the unemployment rate and the inflation rate.
- Explain how to use an Aggregate Demand/Aggregate Supply Model when engaging in Fiscal and Monetary Policy.
- Illustrate how the money supply is measured by the Federal Reserve.
- Differentiate between normative and positive statements.
- Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
- Responsibility - Responsibility encompasses those behaviors and dispositions necessary for students to be effective members of a community. This outcome is designed to help students recognize the value of a commitment to those responsibilities which will enable them to work successfully individually and with others.
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