EC 103 - Honors Principles of Macroeconomics

3 Credit(s)

This course is devoted to an introductory study of aggregate economic activity. Attention focuses on the aggregation concepts used to compute national product accounts, the rate of unemployment, and the consumer price index. Distinctions between actual and equilibrium values, as well as real and nominal measures are highlighted. A simple Keynesian equilibrium model and the aggregate demand/aggregate supply framework are developed and utilized to examine various fiscal and monetary policy options. This course substitutes for EC 101 on student transcripts. Students cannot receive credit for both EC 103 and EC 101. This course is restricted to university honors students.