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|Discipline and Nbr:
PRINCIPLES OF ECON||
Principles of Economics
|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
Title 5 Category:
AA Degree Applicable
Grade or P/NP
00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As:
| ||Total Out of Class Hours: 105.00||Total Student Learning Hours: 157.50||
An introduction to macroeconomic concepts and principles of economic analysis; 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 US within the context of the global economy; World Trade Organization policies, International Monetary Fund, and World Bank structure is examined; global agricultural subsidies and policies are analyzed.
Eligibility for Engl. 1A or equivalent and Math 150A or equivalent.
Limits on Enrollment:
Schedule of Classes Information
Survey of macroeconomic concepts, principles, and theory, in a national and global context. Studies scarcity, the market economy, GDP, business cycles, unemployment, inflation, Keynesian Theory, fiscal and monetary policy, international monetary fund, and the World Trade Organization.
(Grade or P/NP)
Recommended:Eligibility for Engl. 1A or equivalent and Math 150A or equivalent.
Limits on Enrollment:
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP
ARTICULATION, MAJOR, and CERTIFICATION INFORMATION
Not Certificate/Major Applicable
Outcomes and Objectives:
At the conclusion of this course, the student should be able to:
|Associate Degree:||Effective:||Fall 1981||Inactive:||
|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:||
| CID Descriptor: ECON 202|| Principles of Macroeconomics|| SRJC Equivalent Course(s): ECON1
Upon completion of this course, students will be able to:
1. Define terms, identify national and international economic
institutions and recognize the names of prominent national and
2. Recognize domestic and global economic problems and discuss issues
using economic principles to explain their reasoning.
3. Apply their knowledge of economic principles and institutions not
only within the academic setting but also in their everyday lives
where working, spending and saving decisions are concerned.
4. Apply Economic models to concrete models.
5. Calculate mathematical solutions and diagram economic models.
6. Question their own values and popular myths as well as conventional
7. Synthesize the ideas of past and current economists and (from this
synthesis) formulate their own perceptions of how best to address
the fundamental economic questions of what, how and for whom.
8. Assess the nation's economic performance in the context of the global
economy and evaluate the efficacy of global and domestic economic
policies directed towards the achievement of economic goals.
9. Describe the values, themes, methods and history of the discipline
and identify realistic career objectives related to a course of study
in the major.
10. Perform research specific to the discipline and use appropriate
citation style, if different than MLA.
11. Analyze the economic relationships that exist on a global scale
vis-a-vis international trade, labor standards and productivity,
organizations such as the WTO, World Bank, and IMF.
12. Research trade policies such as NAFTA, and GATT, as well as research
the policies of global organizations such as OPEC, the EU, and the
13. Incorporate environmental issues into their analysis of global
Topics and Scope
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 and
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
10. Orientation to the values, themes, methods and history of the
discipline and identify realistic career objectives related to a
course of study in the major, both nationally and globally.
11. 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.
1. Read and study appropriate chapters in text.
2. Approximately 3 homework problems sets to be prepared for review
and in-class discussion.
3. Frequently assigned end of chapter questions to be prepared for
review and in-class discussion.
4. Regular attendance and extensive note taking in class is expected and
5. Preparation for in-class, closed-book, no-notes examinations.
Methods of Evaluation/Basis of Grade.
Representative Textbooks and Materials:
|Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.||Writing
5 - 30%
|Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.||Problem Solving
10 - 40%
|Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.||Skill Demonstrations
0 - 0%
|Exams: All forms of formal testing, other than skill performance exams.||Exams
50 - 80%
|Quizzes, Exams, Essay exams||
|Other: Includes any assessment tools that do not logically fit into the above categories.||Other Category
0 - 0%
McConnell & Brue, Economics 15th ed., McGraw-Hill Irwin 2001.