SRJC Course Outlines

7/22/2019 4:01:07 PMECON 1 Course Outline as of Fall 2012

Changed Course
CATALOG INFORMATION

Discipline and Nbr:  ECON 1Title:  PRIN OF MACROECONOMICS  
Full Title:  Principles of Macroeconomics
Last Reviewed:5/14/2018

UnitsCourse Hours per Week Nbr of WeeksCourse Hours Total
Maximum3.00Lecture Scheduled3.0017.5 max.Lecture Scheduled52.50
Minimum3.00Lab Scheduled06 min.Lab Scheduled0
 Contact DHR0 Contact DHR0
 Contact Total3.00 Contact Total52.50
 
 Non-contact DHR0 Non-contact DHR Total0

 Total Out of Class Hours:  105.00Total 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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An introduction to macroeconomic concepts and principles of economic analysis.  Topics include:  foundations of economic life, national income and employment, business cycles, money and banking, monetary and fiscal policy, economic growth and stability, public finance, international trade and the position of the U.S. within the context of the global economy, World Trade Organization policies,  International Monetary Fund,  World Bank structure, and  global agricultural subsidies

Prerequisites/Corequisites:
Course Completion of MATH 154 or Course Completion of MATH 155 or higher


Recommended Preparation:
Eligibility for ENGL 1A or equivalent

Limits on Enrollment:

Schedule of Classes Information
Description: Untitled document
An introduction to macroeconomic concepts and principles of economic analysis.  Topics include:  foundations of economic life, national income and employment, business cycles, money and banking, monetary and fiscal policy, economic growth and stability, public finance, international trade and the position of the U.S. within the context of the global economy, World Trade Organization policies,  International Monetary Fund,  World Bank structure, and  global agricultural subsidies
(Grade or P/NP)

Prerequisites:Course Completion of MATH 154 or Course Completion of MATH 155 or higher
Recommended:Eligibility for ENGL 1A 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:
 DSocial ScienceFall 2010
 D2Economics  
 DSocial ScienceFall 1991Fall 2010
 D2Economics  
 D3Ethnic Studies  
 DSocial ScienceFall 1981Fall 1991
 D3Ethnic Studies  
 
IGETC:Transfer Area Effective:Inactive:
 4Social and Behavioral ScienceFall 1981
 4BEconomics  
 
CSU Transfer:TransferableEffective:Fall 1981Inactive:
 
UC Transfer:TransferableEffective:Fall 1981Inactive:
 
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:
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Upon completion of this course, students will be able to:
 
1. Analyze and explain current economic conditions as announced by various governmental and non-governmental agencies with respect to full employment goals.
 
2. Compare and contrast the potential economic policy options of the Federal Reserve System versus the economic policy options of the Legislative and Executive branches of government with respect to unemployment, inflation, and full employment.
 
3. Assess the nation's (United States) economic performance in the context of the global economy.

Objectives: Untitled document
Upon completion of this course, students will be able to:
1.  Identify key economists and their contribution(s) to modern economic theory within a historical context.
 
2.  Apply economic principles such as opportunity cost, finite resources, and trade-offs to students' everyday lives where spending, working, and saving decisions are concerned.
 
3.  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.
 
4.  Incorporate environmental issues into their analyses of global economic relationships.
 
5.  Question their own values and popular myths as well as conventional economic hypotheses.
 
6.  Synthesize the ideas of past and current economists and formulate their own perceptions of how best to address the fundamental economic questions of what, how, and for whom.
 
7.  Apply market theory principles to help understand the potential role of government in the economy.
 
8.  Apply discipline-specific research tools to economic data.

Topics and Scope
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1.  Foundations of Economics
     a. the economic problem: scarcity
     b. production possibilities curves
     c. comparative economic systems
2.  The Market Economy
     a. the circular flow of capitalism
     b. tenets of capitalism
     c. mixed capitalism
     d. global markets
3.  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 and the environment
     h. competition between global and domestic markets
4.  Measuring Economic Activity
     a. national income accounting
     b. business fluctuations
     c. comparing economic growth internationally using GDP
5.  The Keynesian Model of Spending, Income and Employment
     a. Keynes v. Neoclassical economics
     b. aggregate demand
     c. a simple econometric model
     d. models of international and economic development
6.  Fiscal Policy and the National Debt
     a. The Employment Act (1946)
     b. budget philosophies
     c. discretionary fiscal policy
     d. automatic stabilizers
     e. actual v. structural deficits
     f. the national debt
     g. recent developments in federal finance
     h. comparing domestic and global debt with reference to the EU
7.  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
     f. the equation of exchange:  MV=PQ
     g. Monetarists v. Keynesians
     h. international monetary institutions including the IMF, World Trade Organization
        World Bank
8.  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
9.  Economic Growth and Development (Optional)
     a. the classical growth model
     b. the Malthusian Specter
     c. technological change and productivity
     d. growth and productivity projections for the U.S. economy
     e. relationships between international trade development and
        population growth
10. Orientation to the values, themes, methods and history of the
   discipline both nationally and globally
11. Identification of realistic career objectives related to a
   course of study in the major
12. Introduction to discipline-specific research tools, including seminal
   books, important periodicals, major indexing sources, professional
   or trade organizations, standard reference tools, discipline-specific
   tools and major web sites, for both national and global economics

Assignments:
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1.  Read 15-25 pages a week in the text.
2.  Complete weekly written homework and problems and research.
3.  Two to four exams, including a final. Exams will include multiple choice questions, analytical problems that require graphing and       computations, and essay questions of approximately 125 words.
4.  Optional quizzes.

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 homework, research
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%
Quizzes, multiple choice exams, essay exams
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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Economics 19th ed. McConnell, Campbell R. and Brue, Stanley L.  McGraw-Hill Irwin:  2011.

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