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2022-2023 College Catalog [ARCHIVED CATALOG]

ECN 202HC - Macroeconomics Principles: Honors

3 Credits, 3 Contact Hours
3 lecture periods 0 lab periods

The study of the economy as a whole. Includes the production possibilities curve, market analysis; definitions of gross domestic product, inflation, and unemployment; fiscal policy, monetary policy; and contemporary macroeconomic issues. Also includes additional Honors content.

Recommendation: MAT 092 . If any recommended course is taken, see a financial aid or Veteran’s Affairs advisor to determine funding eligibility as appropriate.
Information: Must quality for Honors program. Instructor or advisor/counselor approval may be required before registering for this course. Honors Content may include: Intensive research using highest standards and best practices for the discipline, and a significant number/variety of readings of both primary and secondary sources. Also may include a high-quality, peer reviewed paper or project in a format appropriate for the discipline with research presented in class or to a wider audience.
Gen-Ed: Meets AGEC - SBS; Meets CTE - SBS.



Course Learning Outcomes
  1. Match descriptive changes to graphical changes on a production possibilities curve.
  2. Explain market changes, specifically change in equilibrium price and quantity brought about by shifts in market demand and market supply.
  3. Use definitions of gross domestic product, inflation, and unemployment as a foundation for the investigation of current economic realities.
  4. Contrast Classical vs. Keynesian ideas about the effects on the economy in regards to fiscal policy (government spending and taxes).
  5. Formulate alternative understandings of the effects on the economy in regards to monetary policy, including the role of the Federal Reserve.
  6. Evaluate free market solutions to contemporary macroeconomic issues including deficits and debt, international trade, retirement security, etc.
  7. Students will engage in intensive research using highest standards and best practices for the discipline.
Outline:
I. The Production Possibilities Curve

  1. Definition and characteristics
  2. Points on, inside, outside
  3. Inward and outward shifts

II. Market Analysis

  1. Equilibrium, shortage, surplus
  2. Shifts in supply
  3. Shifts in demand

III. Definitions

  1. Gross domestic product
  2. Unemployment
  3. Inflation

IV. Fiscal Policy

  1. Effects on the economy
  2. Government spending
  3. Taxes

V. Monetary Policy

  1. Effects of the economy
  2. Money supply
  3. The Federal Reserve

VI. Contemporary Macroeconomic Issues

  1. Deficits and debt
  2. International trade
  3. Retirement security
  4. Analysis of  other macroeconomic issues