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National College Credit Recommendation Service
National Paralegal College | Evaluated Learning Experience
Varies; self-study format.
Various, distance learning format.
Instructional delivery format:
Upon successful completion of this course, students will be able to: discuss major macroeconomic issues such as economic growth, unemployment, and inflation; define and measure GDP and conduct international comparisons of economic growth; calculate unemployment and explain changes over the business cycle; construct the consumer price index (CPI) and explain its relation to inflation; identify components of the aggregate supply and demand and discuss effects of their fluctuations on the macroeconomic equilibrium; explain the Classical Model including features of the general economy at full employment; identify and discuss causes and measurement of economic growth; examine the role of money and banking institutions and the role of the Federal Reserve in controlling money supply; explain causes of inflation (demand-pull and cost-push theories and their effects on inflation); use a Phillips curve to explain the relation between inflation and unemployment in the short and long run; use Fiscal Policy doctrine to explain the federal budget and the effects of the income tax on markets and governmental budgets; use Fiscal Polity to discuss the effects of tax on savings and investments that the Federal Government uses to stabilize the price leave; and challenge and defend the credibility of monetary policy, the McCallum Rule and the Taylor Rule.
This introductory course is for students with no prior background in Economics, yet have a working knowledge of High School Algebra. The instructional approach is mostly non-quantitative with some emphasis on graphic analysis. Students learn basic macroeconomic concepts on the aggregate supply and demand of outputs in the general economy, economic growth and unemployment, and the role of money and banking institutions in affecting the economy's price level and inflation. Students also study various fiscal and monetary policies used by the government to stabilize economic fluctuations. Evaluation criteria include: required readings, essay assignments, class participation, and final exam.
In the lower division baccalaureate/associate degree category, 3 semester hours in Macroeconomics, Principles of Economics, or Business (1/13) (3/18 revalidation).