Principles of Macroeconomics
I. Course Prefix/Number: ECO 201
Course Name: Principles of Macroeconomics
Credits: 3 (3 lecture; 0 lab)
III. Course (Catalog) Description
Course introduces macroeconomics, utilizing modern economic theory to analyze fiscal and monetary policies by. Content includes inflation, taxes, full employment, gross domestic product (GDP), economic growth; money and banking. Extensive use of graphical analysis.
IV. Learning Objectives
A. Develop analytical skills which can be applied to the solution of a wide range of problems including, but not limited to the economic material of this course.
B. These skills will include the construction of a general theory or model explaining how a system works. The student will be able to explain this model:
a. orally or in writing
b. by depicting the system graphically
c. by using simple algebraic formulas to express his ideas.
C. Using the modeling approach, the student will then analyze the effects of different policy decisions on the outputs produced by the system.
D. As applied to the economic systems under study, the student will understand the interaction of different fiscal and monetary policies, and determine their effects upon basic economic goals such as full employment, price stability, and growth.
V. Academic Integrity
• 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
Supply and Demand
How Markets Work
The Data of Macroeconomics
The Real Economy in the Long Run
Money and Prices in the Long Run
Open Economy Macroeconomics
Short-run Economic Fluctuations
Macroeconomic Policy Debates
VII. Methods of Instruction
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.
IX. Instructional Materials
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.
At least one exam will be given in addition to other required papers and assignments.
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.