ECON 103 - Principles of Macroeconomics

(3 units) CO6

Introductory analysis of how markets and governments interact to determine an economy’s output, employment, income, interest rate, wage, price, and trade balance levels over time.

Prerequisite(s): ECON 102; Corequisite(s): MATH 124 or MATH 126, MATH 126E, MATH 126EE or higher.

Grading Basis: Graded
Units of Lecture: 3
Offered: Every Fall, Spring, and Summer

Student Learning Outcomes
Upon completion of this course, students will be able to:
1. identify the 3 goals of macroeconomic policy.
2. describe the differences between the Classical model and the AS-AD model.
3. explain the effects of monetary and fiscal policy in the Classical model.
4. analyze the impact of changes in spending on real GDP and prices in the AS-AD model.
5. analyze the impact of unexpected price changes on real GDP and prices in the AS-AD model.
6. explain the monetary and fiscal policies that can be used to offset real GDP fluctuations in the AS-AD model.

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