An introduction to macroeconomics emphasizing how the U.S. economy works. Topics of study include measuring domestic output, macroeconomic growth, business cycles, modeling, fiscal policy, money and banking, and international economics and trade issues.
By the end of this course, students will be able to:
- Describe the main characteristics of the macroeconomic system.
- Describe how GDP and national income are defined and measured.
- Describe how economic growth is measured and why it is important.
- Define a business cycle and how it relates to full employment and inflation.
- Describe the differences between several macroeconomic models.
- Define macroeconomic fiscal policy and the role of deficits in the economy.
- Describe the makeup of the Federal Reserve, the U.S. banking system, and explain the concept of money creation.
- Describe the role of interest rates and monetary policy in the nation’s economy.
- Understand the role of international trade, balance of payments, and trade deficits.
- Describe how and why the government sometimes interferes with free international trade.
- Improve written communication skills.
- Be able to articulate a clear Christian ethic and how it applies to the understanding of contemporary macroeconomic issues.
This course uses an eText (Macroeconomics 2nd ed., 2018) as part of Pearson’s MyEconLab. Students will purchase access to both MyEconLab and the eText once they’ve been enrolled. Details are posted in Blackboard.
This class consists of 7 modules of MyEconLab assignments and chapter tests, in addition to a poverty project, a current macroeconomic event research paper, and three journal entries covering macroeconomic-related topics.
MyEconLab assignments and tests are worth 675 points, the poverty project is worth 100 points, the current events research paper is worth 150 points, and the journal entries are worth 75 points, for a total of 1,000 points in the course.
- MBA, Taylor University
- BS, Indiana University