12/21/2024 5:31:26 PM	ECON 1A Course Outline as of Spring 2005	Changed Course
CATALOG INFORMATION
Discipline and Nbr:  ECON 1A	Title:  PRINCIPLES OF ECON
Full Title:  Principles of Economics
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: 

Catalog Description:

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.

Prerequisites/Corequisites:

Recommended Preparation:
Eligibility for Engl. 1A or equivalent and Math 150A or equivalent.

Limits on Enrollment:

Schedule of Classes Information
Description:

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)
Prerequisites:
Recommended:Eligibility for Engl. 1A or equivalent and Math 150A 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: Not Certificate/Major Applicable

COURSE CONTENT

Outcomes and Objectives:
At the conclusion of this course, the student should be able to:

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

   international economists.

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

   economic hypotheses.

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

   G-7 nations.

13. Incorporate environmental issues into their analysis of global

   economic relationships.

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

        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 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.

Assignments:

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

   assumed.

5.  Preparation for in-class, closed-book, no-notes examinations.

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
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.		Problem Solving 10 - 40%
Homework problems
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, 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:

McConnell & Brue, Economics 15th ed., McGraw-Hill Irwin 2001.

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