COURSE SYLLABUS

 DISCIPLINE: ECON

COURSE: 105

TITLE OF THE COURSE: Principles of Economics

A.        Catalog Entry

Economics 105. Principles of Macroeconomics. (3)

Three hours lecture.

Prerequisites: None.

            Semester offered: Summer, Fall, and Spring

Econ 105 is an introduction to scarcity and choice, supply and demand theory, national income accounting, money and banking, monetary and fiscal policy models and how government deals with the problems of inflation, unemployment, and economic growth.

B.        Detailed Description of Content of the Course

Students will be introduced to the science of economics, particularly to the study of national income theory. Students will learn to understand economic events as reported in the media and economic issues as presented in political contexts. Students will prepare for continued study of economics and economics-related topics. Students will learn the "economic way of thinking" in considering the nature of scarcity and societal response.

            Topic Outline

            1.         Definitions

            2.         Methodology

3.         Scarcity and Production Possibilities

            4.         Demand and Supply Models

            5.         National Income Accounting

            6.         Classical and Keynesian Theory

7.         Simple Models of Income Determination and Fiscal Policy

8.         Monetary Policy and Banking

            9.         Supply-side Economics

10.       Economic Growth

11.       International Economics

C.        Detailed Description of Conduct of the Course

The following teaching strategies will be employed:

            Lectures, video presentations, discussion, oral presentations by students.

D.        Goals and Objectives of the Course

1.         Discuss the economic way of thinking dealing with the economic problem, scarcity, normative and positive economics, and using graphs.

2.         Examine the basic economic concepts of opportunity costs, production possibilities, supply and demand, and the market system.

3.         Assess the state of the economy - national income accounting, unemployment and its measurement, inflation and its measurement, and budget deficits.

4.         Explore national income determination and policy.

5.         Discuss aggregate supply and demand, Classical and Keynesian theories, Keynesian fiscal and monetary policy.

6.         Discuss monetarism, supply-side, rational expectations and new classical paradigms.

7.         Discuss money and monetary institutions.

            8.         Explore money and its creation, the Federal Reserve System, and the Federal Reserve monetary tools.

            9.         Discuss international economics, economic growth, and economic development.

E.         Assessment Measures

Tests, homework, reports, presentations, class participation. Grades and percentages depend on individual professors.

F.         Other Course Information

 G.       Review and Approval

            September 7, 2001       N. Hashemzadeh, Chair