Offering aspiring students and professionals an opportunity to shape their careers and futures

Resources

Sub Navigation

ECON 321 Principles of Macroeconomics (3 Credits)

This course includes the aspect of economics that deals with principles that apply to economy as a whole. This includes general price levels, output and income as well as interrelations among different sectors of the economy.

Learning Outcomes:

  • Understand how people make rational decisions in the market place; interact to organize economic activity; how our macro-economy works.
  • Analyze production possibilities; comparative advantage; opportunity costs; specialization.
  • Comprehend the effects of government policies that place a ceiling on prices; the effects of government policies that put a floor under prices; how a tax on a good affects its price and the quantity sold; how the burden of a tax is split between buyers and sellers.
  • Analyze determinants of trade; gains and losses from trade; arguments for open trade; arguments for restricting trade.
  • Comprehend the classical theory of inflation; the effects of monetary policy.
  • Perform debates over Macroeconomic Policy.