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Principles of Macroeconomics

I.     Course Prefix/Number: ECO 201

       Course Name: Principles of Macroeconomics

       Credits: 3 (3 lecture; 0 lab)

II.    Prerequisite

None

III.   Course (Catalog) Description

Course introduces macroeconomics, utilizing modern economic theories to analyze fiscal and monetary policies. Content includes inflation, taxes, full employment, gross domestic product (GDP), economic growth, money and banking. Extensive use of graphical analysis.

IV.   Learning Objectives

1.    Define economics, macro and micro, and how economic questions are posed.  Develop the baseline for the economic way of thinking.
2.    Explain the circular flow model and how households and firms interact in the US and global environment.
3.    Derive and graph the demand and supply curves.
4.    Compute GDP (by income and expenditure approach).
5.    Define the unemployment rate and explain types of unemployment.
6.    Explain the CPI and its impact on real interest and real wage rates.
7.    Calculate economic growth rates of GDP and working age population, and explain impact of labor, capital and technology on economic growth, graphically and through written means.
8.    Identify financial institution and financial markets and how they work, including the Federal Reserve and its impact on our economic growth.
9.    Explain the money supply and graphically show the supply and demand for money.  Demonstrate how inflation is determined by the money supply growth.
10.    Analyze a world economy based on their standard of living, economic growth and employment statistics and suggest solutions to its economic problems.

V.    Academic Integrity

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.
Details of the Code of Academic Conduct can be found in the Student Handbook.

VI.   Sequence of Topics

A.    Markets and Production
B.    Supply and Demand
C.    GDP, CPI and Unemployment
D.    The Real Economy in the Long Run
E.    Finance, Savings and Investment
F.    Monetary System, Interest and Inflation

VII.  Methods of Instruction

Lecture/Discussion


Course may be taught as face-to-face, media-based, hybrid or online course.

VIII. Course Practices Required

A.    Read and understand course material, including charts and graphs.
B.     Writing clearly and correctly at a college level.
C.    Participation in class discussion.
D.    Mathematics at the high school algebra level, solving linear equations.
E.    Graphical analysis.
F.    Course may be taught as face-to-face, media-based, hybrid or online course.

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

X.    Methods of Evaluating Student Progress

Grades are based on factors that include exams, quizzes, written assignments, problem solving sets, classroom participation, and class presentations.

XI.   Other Course Information



If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.