EC 101 - Principles of Macroeconomics

3 Credit(s)

An introductory study of the determinants of the aggregate level of economic activity in a global economy. Attention focuses on the demand for output by households (consumption), businesses (investment), government and trade with the rest of the world (net exports), as well as the roles played by fiscal and monetary policies. In addition, interest centers on the problems of inflation, unemployment, federal budget deficits, and stimulating economic growth. Topics include measuring the levels of output and income, Keynesian and classical models of aggregate demand and supply, the banking system and money creation, impacts of government fiscal and monetary policies, inflationary processes and models of inflation, unemployment, inflation tradeoff controversies, public debt burdens, international trade policies, and determinants of economic growth. Students may not receive credit for both EC 101 and EC 103.