Open Educational Resource
EC 202 - Introduction to Macroeconomics Public Deposited
This course introduces the determination of levels of national income, employment and prices, and the basic causes of fluctuations in the business cycle, the banking system, monetary policy and financial intermediation. Other topics may include international trade and international finance. Course Outcomes: 1. Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues. 2. Describe and use economic data to evaluate the three basic macroeconomic problems: recession, unemployment, and inflation. 3. Discuss and apply the concepts of economic growth and business cycles to the macro economy. 4. Demonstrate how Gross Domestic Product (GDP) and Real GDP are calculated and explain the uses and limits of both. 5. Discuss and apply the aggregate-demand and aggregate-supply model to analyze short run and long run national economic conditions and the effectiveness of macroeconomic policy. 6. Apply the concepts of comparative and absolute advantage to explain the benefits of trade.