Department of Economics

Econ 2201 - Principles of Macroeconomics

Course Objectives and Assessment

Objective 1: To learn basic economic concepts related to macroeconomics.

Outcome:

  1. Students will be able to show that they understand economic concepts such as scarcity, GDP accounting, unemployment, inflation, real and nominal interest rates, fiscal policy, the operation of the Federal Reserve Bank and its monetary policy.

Assessment:

  1. Successful completion of homework problems and exams.

Objective 2: To use basic economic principles to analyze the macro-economy.

Outcome:

  1. Students will be able to show that they can use economic principles to analyze economics by applying models such as demand and supply to determine quantity and price in markets, and various macro models to determine real GDP and price levels, and to analyze the effects of fiscal and monetary policy.

Assessment:

  1. Successful completion of homework problems and exams.

Objective 3: To use basic economic principles to be able to predict how changes in policy are expected to impact the economy.

Outcome:

  1. Students will be able to show that they can use basic economic principles to analyze how changes in fiscal policy (taxes, government spending and changing deficits/surpluses) and monetary policy are expected to impact outcomes such as unemployment and inflation.

Assessment:

  1. Successful completion of homework problems and exams.

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