Course Snapshot for ECO201 - Principles of Macroeconomics
The information listed below is subject to change. Please review the course syllabus within your online course at the start of class.
Course Competencies
The competencies you will demonstrate in this course are as follows:
- Demonstrate awareness of economic concepts including saving and investment, market forces, national income accounting and the nature of the relationship between the public and private sectors of the economy.
- Manifest the ability to recognize, collect and analyze objective performance data employing the scientific method. Further, understand and use models that project possible economic outcomes.
- Show understanding of the fundamental significance of the effective and efficient use of society's scarce resources.
- Demonstrate an understanding of International Interdependence and the possible economic consequences of varied courses of action.
- Demonstrate the ability to select and apply contemporary forms of technology to solve problems or compile information.
- Read, analyze and apply written materials to new situations.
- Write and speak clearly and logically in presentations and essays.
Module Outcomes Mapped to Competencies
Module 1 Learning Outcomes |
Mapped to Course Competencies (above) |
| Define economics and distinguish between microeconomics and macroeconomics as well as between positive and normative economics. | 1, 2, 5, 6, 7 |
| Describe the concepts of scarcity, choice and opportunity cost. | 2, 3, 5, 6, 7 |
| Explain the law of demand and the law of supply and understand the interaction between the two to determine equilibrium market price and quantity. | 1, 2, 5, 6, 7 |
| Discuss determinants that influence supply and demand and distinguish between a change in demand or supply with a change in quantity demanded or quantity supplied. | 1, 2, 5, 6, 7 |
| Explain the effects of price ceilings and price floors. | 1, 2, 5, 6, 7 |
Module 2 Learning Outcomes |
Mapped to Course Competencies (above) |
| Describe economic functions and political functions of government along with public spending and public choice. | 1, 2, 5, 6, 7, |
| Discuss taxation and the structure of the US tax system. |
1, 2, 5, 6, 7, |
| Define unemployment and explain different types of unemployment. | 1, 2, 5, 6, 7, |
| Describe inflation and how it impacts various groups. | 1, 2, 5, 6, 7, |
| Explain how to measure the economy’s performance with an understanding of gross domestic product. | 1, 2, 3, 5, 6, 7 |
| Explain how to measure the economy’s performance with an understanding of gross domestic product. | 1, 2, 4, 5, 6, 7 |
Module 3 Learning Outcomes |
Mapped to Course Competencies (above) |
| Describe long-run aggregate supply and aggregate demand and factors impacting them. | 1, 2, 3, 5, 6, 7 |
| Discuss the effect of economic growth on the long-run aggregate supply curve and why economic growth can cause deflation. | 1, 2, 3, 5, 6, 7 |
| Evaluate Classical and Keynesian models and factors influencing macroeconomic concepts within. | 1, 2, 5, 6, 7 |
| Explain key determinants of consumption, saving and investment and how equilibrium real GDP is established and changes influencing it. | 1, 2, 5, 6, 7 |
| Discuss discretionary fiscal policy and its effects and how government influences economic activity through taxation and government spending. | 1, 2, 5, 6, 7 |
| Explain how federal budget deficits occur and the macroeconomic effects of government budget deficits. | 1, 2, 5, 6, 7 |
Module 4 Learning Outcomes |
Mapped to Course Competencies (above) |
| Define the functions and properties of money and the quantity of money in circulation. | 1, 2, 3, 5, 6, 7 |
| Describe the basic structure and functions of the Federal Reserve System. | 1, 2, 5, 6, 7 |
| Explain the effects of monetary policy actions including how expansionary and contractionary monetary policy affect equilibrium GDP and prices. | 1, 2, 3, 5, 6, 7 |
| Discuss how the Federal Reserve’s Open Market Operations influence market interest rates and why the money supply and the interest rate cannot be stabilized simultaneously. | 1, 2, 3, 5, 6, 7 |
| Describe relationships between the inflation rate and the unemployment rate. | 1, 2, 5, 6, 7 |
| Explain active and passive policymaking. | 1, 2, 5, 6, 7 |
Module 5 Learning Outcomes |
Mapped to Course Competencies (above) |
| Explain why population growth can have uncertain effects on economic growth. | 1, 2, 3, 4, 5, 6, 7 |
| Discuss the sources of international investment funds for developing nations and identify obstacles to international investment in these nations. | 1, 2, 3, 4, 5, 6, 7 |
| Identify key functions of the World Bank and the International Monetary Fund. | 2, 4, 5, 6, 7 |
| Discuss the importance of international trade and why nations can gain from specializing in production based on comparative advantage. | 2, 3, 4, 5, 6, 7 |
| Describe ways that nations restrict foreign trade. | 2, 3, 4, 5, 6, 7 |
| Distinguish between the balance of trade and the balance of payments. | 1, 2, 4, 5, 6, 7 |
| Discuss how exchange rates are determined and factors that can induce changes in the equilibrium exchange rates. | 2, 4, 5, 6, 7 |
Course Time Commitment and Expectations
The semester schedule for this course may be 15 weeks, 10 weeks, or 6 weeks in duration. Based on the course format, this table shows the approximate amount of time you should plan to spend per week on this course. This includes time to read/listen to the online content, participate in discussion forums, complete all assignments, and study the course material.
For accelerated courses, the amount of time required per week is greater. Note that regardless of course format, the course material is the same and all course competencies, module outcomes, and assignments will be covered.
| Course Credit Hours | Course Format (Duration) | Pace Relative to a 15 Week Course | Course Activity Hours | Student Learning Hours Per Week |
|---|---|---|---|---|
| 3 | 15 Weeks | - | 135 | 8.5 to 9.5 |
| 3 | 10 Weeks | 1.5x faster | 135 | 12.5 to 14.5 |
| 3 | 6 Weeks | 2.5x faster | 135 | 21 to 24 |
Aside from typical reading assignments, this course has the following (Please Note: This list is subject to change based on the discretion of the instructor facilitating this course.):
Assignment | Points |
|---|---|
| Introduction Discussion | 5 |
| Introductory Assignment | 10 |
| Discussions (10 @ 20 pts each) | 200 |
| D2L Web-based Assignments (5 @ 25 pts each) | 125 |
| MEL Homework Assignments (5 @ 20 pts each) | 100 |
| Macroeconomic Term Paper (Topic & Final Paper) | 100 |
| Exams (4 @ 100 pts each, 1 @ 75 pts) | 475 |
| TOTAL | 1015 |
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