This course introduces economic analysis of aggregate employment, income, and prices. Topics include major schools of economic thought; aggregate supply and demand; economic measures, fluctuations, and growth; money and banking; stabilization techniques; and international trade. Upon completion, students should be able to evaluate national economic components, conditions, and alternatives for achieving socioeconomic goals. This course has been approved to satisfy the Comprehensive Articulation Agreement for the general education core requirement in social/behavioral sciences.
Upon successful completion of the course, students will be able to:
- Understand that economics is about the allocation of scarce resources, that scarcity forces choice, tradeoffs exist and that every choice has an opportunity cost. Be able to demonstrate these concepts using a production possibility frontier diagram.
- Understand how comparative advantage provides the basis for gains through trade.
- List the determinants of the demand and supply for a good in a competitive market and explain how that demand and supply together determine equilibrium price.
- Understand the causes and effects of inflation and unemployment.
- Describe the macroeconomy using aggregate demand and aggregate supply analysis.
- Demonstrate an understanding of monetary and fiscal policy options as they relate to economic stabilization in the short run and in the long run.
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e-book enables you to access interactive reading material to strengthen the skills learned in the sessions.
Online Lab enables you to practice the application of concepts you have learnt in the sessions in the virtual environment.
Tutorials enables you to get easy learning with clear, crisp, and to-the-point content on a wide range of technical and non-technical subjects without any preconditions and impediments.