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ECON 310 Intermediate Macroeconomics Theory (3 Credits)

Students will review macroeconomic issues that include: the determination of output, interest rates, inflation, and employment and unemployment. Students will also discuss fiscal and monetary, public debt, and other international economic issues. The course illustrates macroeconomic principles using the European and American experience.

Learning Outcomes:

  • Define, calculate, and discuss the limitations of key macroeconomic aggregates as GDP and inflation as measured by the CPI.
  • Articulate the link between savings and investment in both a closed and open economy.
  • Assess the economic costs of inflation.
  • Analyze the series of events that led to the financial crisis of 2008.
  • Identify the benefits and costs of President Obama's stimulus plan for the economy.
  • Rationally discuss the arguments for and against raising the minimum wage.
  • Identify the causes and consequences of unemployment.
  • Compare savings rates across nations, exploring both the causes and consequences of differing savings behaviors.
  • Synthesize an argument for and against privatizing social security.
  • Assess the proposal to replace the federal income tax with a national sales tax.
  • Analyze economic growth rates and their determinants.
  • Explain the role of money in the economy and assess the relationship between monetary policy and inflation.