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Master Course Outline
ECON& 202
Macro Economics

Credits: 5
Clock Hours per Quarter: 50

AA Discipline: [Social Sciences]

Lecture Hours:50

Theory and policy related to organization and operation of a market economy. Topics include supply and demand theory, government spending and taxation, money and banking, analysis of employment, inflation, aggregate output and economic growth, and fiscal and monetary policy tools. Formerly ECON 201, Fundamentals of Macroeconomics.

Intended Learning Outcomes
  • Define and explain economic terms.
  • Analyze economic concepts using graphical representations.
  • List and describe resource classifications.
  • Calculate optimum solutions to economic problems using given data.
  • Evaluate the effects of changes in demand and supply on the market price and equilibrium quantity.
  • Explain the rationing function of prices and describe the effect of interventions in markets.
  • Explain the structure of the U.S. income tax system.
  • Describe and justify economic and political functions of government.
  • Explain relationship between tax rates and tax revenues.
  • Explain the nature of the Social Security and Medicare systems and discuss these system’s problems.
  • Identify economic forces which determine the level of national output, unemployment in the labor force, and general level of prices.
  • Define and calculate Gross Domestic Product (GDP) and understand limitations of using GDP as a measure of public welfare.
  • Explain fundamental determinants of economic growth.
  • Discuss long-run equilibrium and relationship between growth and inflation rates using long-run aggregate supply (LRAS) and aggregate demand (AD).
  • Compare Classical view of the national economy to the Keynesian view.
  • Explain key determinants of consumption and saving, and describe how equilibrium level of GDP is established.
  • Explain the relationship between total planned expenditures and aggregate demand.
  • Summarize fiscal policy tools.
  • Relate deficit spending to the public debt.
  • Define money, money supply, and financial intermediation.
  • Describe structure and functions of the Federal Reserve System.
  • Explain methods used by the Federal Reserve while conducting monetary policy.

  • Course Topics
  • Defining Economics
  • Scarcity and Trade-offs
  • Comparative Advantage and Trade
  • Demand and Supply
  • The Price System and Markets
  • The Public Sector
  • Taxes, Transfers and Public Spending
  • Business Fluctuations, Unemployment, Inflation and Deflation
  • Circular Flow Model of the Economy
  • National Income Accounting methods
  • Economic Growth
  • Aggregate Demand and Aggregate Supply
  • Classical versus Keynesian Macro Analysis
  • Consumption Function
  • Fiscal Policy
  • Deficit Spending and Public Debt
  • Money Creation and Banking
  • Monetary Policy

  • Syllabi Listing See ALL Quarters
    Year Quarter
    ECON& 202
    Spring 2015
    Jennifer DeJean
    ECON& 202
    Winter 2015
    Debora Frazier
    ECON& 202
    Fall 2014
    Debora Frazier
    ECON& 202
    Spring 2014
    Sam Barker
    ECON& 202
    Winter 2014
    Debora Frazier

    Two Year Projected Schedule

    Year One* Year Two**

    *If fall quarter starts on an odd year (2003, 2005, etc.), it's Year One.
    If fall quarter starts on an even year (2002, 2004, etc.), it's Year Two.