11/21/2024 12:39:04 AM	ECON 1 Course Outline as of Summer 2019	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:

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, international trade and the position of the U.S. within the context of the global economy.

Prerequisites/Corequisites:
Course Completion of MATH 154, MATH 155, MATH 156, or higher, or MATH 15, or appropriate placement based on AB 705 mandates

Recommended Preparation:
Eligibility for ENGL 1A or equivalent

Limits on Enrollment:

Schedule of Classes Information
Description:

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, international trade and the position of the U.S. within the context of the global economy.

(Grade or P/NP)
Prerequisites:Course Completion of MATH 154, MATH 155, MATH 156, or higher, or MATH 15, or appropriate placement based on AB 705 mandates
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:
	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:

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.  Utilize the tools of fiscal and/or monetary policy to return the economy to full employment.

 

Objectives:

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

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

IX.  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

X. Orientation to the values, themes, methods and history of the

     discipline both nationally and globally

XI. Identification of career objectives related to a course of study

      in the major

XII. Introduction to discipline-specific research tools, major indexing sources,

      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 (15-20 pages) per week

2. Approximately 3 homework problem sets to be prepared for review and discussion

3. Two to four in-class, closed-book, no-notes, examinations/quizzes including a final.

    For online classes, examinations/quizzes will be taken online

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 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%
Examinations/Quizzes including a final, 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:

Principles of Macroeconomics. 2nd ed. Coppock, Lee. and Mateer, Dirk. W. W. Norton & Company. 2017

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