| 12/21/2024 4:37:19 AM |
| Changed Course |
| CATALOG INFORMATION
|
| Discipline and Nbr:
ECON 1 | Title:
PRIN OF MACROECONOMICS |
|
| Full Title:
Principles of Macroeconomics |
| Last Reviewed:10/28/2024 |
| Units | Course Hours per Week | | Nbr of Weeks | Course Hours Total |
| Maximum | 3.00 | Lecture Scheduled | 3.00 | 17.5 max. | Lecture Scheduled | 52.50 |
| Minimum | 3.00 | Lab Scheduled | 0 | 6 min. | Lab Scheduled | 0 |
| | Contact DHR | 0 | | Contact DHR | 0 |
| | Contact Total | 3.00 | | Contact Total | 52.50 |
| |
| | Non-contact DHR | 0 | | Non-contact DHR Total | 0 |
| | Total Out of Class Hours: 105.00 | Total Student Learning Hours: 157.50 | |
Title 5 Category:
AA Degree Applicable
Grading:
Grade or P/NP
Repeatability:
00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As:
Formerly:
ECON 1A
Catalog Description:
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In this course, students will be introduced to fundamental macroeconomic concepts on a national level. Topics include production, distribution and consumption of goods and services, the exchange process, prices, labor markets, the function of migrant workers on an economy, Gross Domestic Product (GDP) analysis, the multiplier principle, the influence of government spending on income and output, the role of money in society, analysis of monetary policy, including the banking system and the Federal Reserve System.
Prerequisites/Corequisites:
Course Completion of Intermediate Algebra or higher or placement into
Math Tier 2 or higher
Recommended Preparation:
Eligibility for ENGL C1000 or equivalent
Limits on Enrollment:
Schedule of Classes Information
Description:
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In this course, students will be introduced to fundamental macroeconomic concepts on a national level. Topics include production, distribution and consumption of goods and services, the exchange process, prices, labor markets, the function of migrant workers on an economy, Gross Domestic Product (GDP) analysis, the multiplier principle, the influence of government spending on income and output, the role of money in society, analysis of monetary policy, including the banking system and the Federal Reserve System.
(Grade or P/NP)
Prerequisites:Course Completion of Intermediate Algebra or higher or placement into
Math Tier 2 or higher
Recommended:Eligibility for ENGL C1000 or equivalent
Limits on Enrollment:
Transfer Credit:CSU;UC.
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP
ARTICULATION, MAJOR, and CERTIFICATION INFORMATION
| Associate Degree: | Effective: | Fall 1981
| Inactive: | |
| Area: | D
H
| Social and Behavioral Sciences
Global Perspective and Environmental Literacy
|
| |
| CSU GE: | Transfer Area | | Effective: | Inactive: |
| | D | Social Science | Fall 2010 | |
| | D2 | Economics | | |
| | D | Social Science | Fall 1991 | Fall 2010 |
| | D2 | Economics | | |
| | D3 | Ethnic Studies | | |
| | D | Social Science | Fall 1981 | Fall 1991 |
| | D3 | Ethnic Studies | | |
| |
| IGETC: | Transfer Area | | Effective: | Inactive: |
| | 4 | Social and Behavioral Science | Fall 1981 | |
| | 4B | Economics | | |
| |
| CSU Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
| |
| UC Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
| |
| C-ID: |
| CID Descriptor: ECON 202 | Principles of Macroeconomics | SRJC Equivalent Course(s): ECON1 |
Certificate/Major Applicable:
Both Certificate and Major Applicable
COURSE CONTENT
Student Learning Outcomes:
At the conclusion of this course, the student should be able to:
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1. Apply the tools of supply and demand to assess equilibrium of price and quantity in competitive markets.
2. Assess the nation's economic performance based on GDP, unemployment and inflation.
3. Demonstrate an understanding of how specific tools of fiscal and/or monetary policy can return the economy to full employment.
Objectives:
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At the conclusion of this course, the student should be able to:
1. Apply economic principles such as opportunity cost, finite resources, and trade-offs to students' everyday lives where spending, working, and saving decisions are concerned.
2. Articulate a vision of the global economy as a means by which individuals worldwide can be made better-off through the use of markets and the rational allocation of finite resources.
3. Synthesize the ideas of past and current economic theories and formulate their own perceptions of how best to address the fundamental economic questions of what, how, and for whom.
4. Apply market theory principles to help understand the potential role of government in the economy.
5. Apply discipline-specific research tools to economic data.
Topics and Scope
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I. Foundations of Economics
A. The economic problem: scarcity
B. Production possibilities curves
C. Comparative economic systems
II. The Market Economy
A. The circular flow of capitalism
B. Mixed capitalism
C. Global markets
III. Supply and Demand: How Prices are Determined
A. Elements of a market
B. Market demand
C. Market supply
D. The interaction of demand and supply
E. The functions of prices
F. Government and the market
G. Market failure
H. Competition between global and domestic markets
IV. Measuring Economic Activity
A. National income accounting
B. Business fluctuations
C. Comparing economic growth internationally using GDP
V. The Keynesian Model of Spending, Income and Employment
A. Keynes v. classical economics
B. Aggregate demand
VI. Fiscal Policy and the National Debt
A. Discretionary fiscal policy
B. Automatic stabilizers
C. Actual v. structural deficits
D. The national debt
VII. Money, Banking, and Monetary Policy
A. Functions of money
B. Defining money
C. Demand deposits and commercial banking
D. The Federal Reserve system and monetary policy
E. Interest rates
VIII. Demand-Side v. Supply-Side Economics
A. The model of aggregate demand-aggregate supply
B. Stagflation: a dilemma for demand-side economics
C. Supply-side external stocks
D. Tenets of supply-side economics
Assignments:
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1. Read and study appropriate chapters in text (15-20 pages per week).
2. Homework problem sets involving computations and graphing to be prepared for review and discussion (2-4)
3. Examinations; will be closed-book and no notes
4. Written assignments and chapter questions.
Methods of Evaluation/Basis of Grade.
| Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing. | Writing
5 - 30% |
| Written assingments | |
| Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills. | Problem Solving
10 - 40% |
| Homework problems involving computation and graphing | |
| Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams. | Skill Demonstrations
0 - 0% |
| None | |
| Exams: All forms of formal testing, other than skill performance exams. | Exams
50 - 80% |
| Examinations | |
| Other: Includes any assessment tools that do not logically fit into the above categories. | Other Category
0 - 0% |
| None | |
Representative Textbooks and Materials:
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Principles of Macroeconomics. 4nd ed. Coppock, Lee. and Mateer, Dirk. W. W. Norton & Company. 2023.
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