ECO 137 - Principles of Macroeconomics

Offered WI
Lecture- 3
3 credit hrs/3 contact hrs
Survey of economics continued. Focuses on macro‐economic analysis and description and examines certain specific economic problems within the American economy.

Student Learning Outcomes:

Describe economic growth.
Discuss the causes and types of unemployment.
Analyze economic models that include government and foreign trade.
Describe Gross Domestic Product and its major components (Consumption, Investment, Government Purchases and Net Exports).
Describe the major indicators and measures of inflation.
Define and analyze the aggregate supply and demand model.
Define and analyze the income-expenditure model.
Discuss Federal fiscal policy.
Discuss and analyze effects of the Federal deficit on the economy.
Discuss the banking system.
Discuss the role of the Federal Reserve in regulating the money supply.
Describe the major tools of the Fed (open market operations, discount rate and required reserve ratios).
Describe the relationship between the supply of money and inflation.
Discuss the relationship of monetary and fiscal policy.
Describe and analyze the causes of inflation.
Discuss and analyze the effects of exchange rates.
Define productivity.
Discuss the effects of growth in productivity on an economy.
Analyze the relationship between savings and economic growth.