Macroeconomics Syllabus

Course Syllabus:  Econ120 Syllabus Fall 2018

Course Description: An Introduction to the study of the economy as a whole.  We will consider the problems of inflation, unemployment, business cycles, growth, and how government policies affect the economy.

Textbook Information:  Principles of Macroeconomics 2e - Open Stax

STUDENT LEARNING OUTCOMES

Upon successful completion of this course, you will be able to:

• Understand how households (demand) and businesses (supply) interact in various market structures to determine price and quantity of a good produced.
• Understand the links between household behavior and the economic models of demand.
• Represent demand, in graphical form, including the downward slope of the demand curve and what shifts the demand curve.
• Understand the links between production costs and the economic models of supply.
• Represent supply, in graphical form, including the upward slope of the supply curve and what shifts the supply curve.
• Understand the efficiency and equity implications of market interference, including government policy.
• Understand how different degrees of competition in a market affect pricing and output.
• Apply economic reasoning to individual and firm behavior.
• Understand the meaning of marginal revenue and marginal cost and their relevance for firm profitability.
• Understand the major characteristics of different market structures and the implications for the behavior of the firm.