Course Syllabus
Course: ECON 2020
Division: Social and Behavioral Science
Department: Social Science
Title: Principles of Macroeconomics
Semester Approved: Fall 2023
Five-Year Review Semester: Summer 2028
End Semester: Summer 2029
Catalog Description: This course is designed to provide students with an introduction to the principles of macroeconomics. This course teaches students economic principles and theories that gird our national economic system and how these principles and theories influence economic realities markets and society.
Semesters Offered: Fall, Spring
Credit/Time Requirement: Credit: 3; Lecture: 3; Lab: 0
Prerequisites: ECON 2010
Justification: ECON 2020 is also required for an Associate of Science Degree in Accounting, Business Management, Economics and is a recommended elective for several other majors and Associate of Applied Science Degrees.
Student Learning Outcomes:
Explain social institutions, structures, and processes across a broad range of historical periods and cultures from a social and behavioral science perspective. Through the study of scholarly works and primary sources, students will examine a variety of factors that explain the social institutions, structures, and processes across a broad range of historical periods and cultures—in the context of the economic system of the United States of America—from a social and behavioral science perspective, with emphasis on a macroeconomic perspective. Participation, exams, assignments, and/or quizzes will allow students to demonstrate their ability to explain these social institutions, structures, and processes.
Develop and communicate hypothetical explanations for individual human behavior within the large-scale historical or social context. Through the study of scholarly works and primary sources and through inclass discussions, students will develop and communicate hypothetical explanations for individual and market behavior in economics, within large-scale historical and social contexts, especially issues and concepts relating to macroeconomy. Participation, exams, assignments, and/or quizzes will allow students to develop and communicate hypothetical explanations for individual economic behavior within the context of macroeconomics.
Draw on the social and behavioral sciences to evaluate contemporary problems using social science research methodology. Students will be introduced to social science methodology, with a particular emphasis on economic methods. Through the study of economic research and scholarly texts, students will evaluate contemporary problems using social science and economic research methodology. Participation, exams, assignments, and/or quizzes will allow students to demonstrate their ability to evaluate contemporary macroeconomic problems using social science and economic research methodology.
Describe and analytically compare social, political, economic, cultural, geographical, and historical settings and processes other than one’s own. Students will describe and analytically compare economic settings and processes other than their own. By analyzing scholarly sources and primary sources in economics,students will understand how to describe and analytically compare distinct economic processes and environments. Students will be asked to demonstrate their ability to describe and analytically compare economic settings and processes other than their own through participation, exams, assignments, and/or quizzes.
Explain and use the social-scientific method to test research questions and draw conclusions. Students will be introduced to the social-scientific method with particular emphasis on economic methodologies. By analyzing primary and secondary sources in economics, students will understand how to use economic methods to test economic research questions and draw conclusions. Students will be asked to demonstrate their ability to use the social-scientific method with particular emphasis on economic methods that integrate diverse viewpoints in the context of economics in the United States of America and in the world through participation, exams, assignments, and/or quizzes.
Write effectively within the social science discipline, using correct disciplinary guidelines, to analyze, interpret, and communicate about social science phenomena. By performing research, writing essays, and modeling academic writing in the field of economics, students will write effectively within economics, using correct disciplinary guidelines, to analyze, interpret, and communicate about economic phenomena. Participation, exams, assignments, and/or quizzes will allow students to demonstrate their ability to write effectively within economics, to use correct disciplinary guidelines, and to analyze, interpret, and communicate about economic phenomena.
Content:
This course teaches students how economic principles and theories are the basis of our economic system and how these principles and theories influence economic realities at various levels of society. The course employs a discussion-oriented pedagogy; therefore, students will be expected to come to class having engaged assigned materials and prepared to critically reflect on and discuss issues and concepts. This method of instruction promotes diversity, interaction, and understanding amongst all students. Students from various cultural backgrounds will see macroeconomics highlighted as it exists in diverse areas of the U.S. and the world. Primary and secondary source reading assignments help present a more complete picture of the economy.Possible Topics Include: - Thinking Like an Economist - Economics defined - Circular flow - Economic Models - Supply and Demand - Market Efficiency - Government in the Economy - Opportunity Costs - Equilibrium price - Surplus and shortage - Four factors of production - Production possibilities curve - Measuring Gross Domestic Product and other Macroeconomic indicators - Types of Inflation and Unemployment - The Business Cycle: Depressions and recessions - Keynesian Equilibrium Model - Injections-Leakages Model - Classical and Keynesian Economics - Neo-Classical and Neo-Keynesian Economics - Aggregate Demand and Aggregate Supply - Economic Growth and the Wealth of Nations - Money and the Federal Reserve - Monetary Policy - Fiscal Policy and Budget Deficits - International Economics
Key Performance Indicators:
Exams 30 to 60%
Essays/written work 25 to 60%
Assignments 25 to 60%
Participation 0 to 20%
Representative Text and/or Supplies:
Fred M. Gottheil, Principles of Economics (current edition).
Pedagogy Statement:
The course will be taught in a manner that reflects current best practices in economics pedagogy and accounts for, but is not limited to, the following: instructor specialties, student demographics, class size, classroom environment, and choice of primary texts/materials. Class discussions, exams, written assignments, and/or other assignments will facilitate students’ mastery of Student Learning Outcomes and allow students to make their own contributions to the dialogue in economic research and discussion.
Instructional Mediums:
Lecture
Online
Maximum Class Size: 35
Optimum Class Size: 25
