Examines macroeconomic concepts including determination of the levels of output and employment in a market economy. Emphasizes contemporary problem areas such as inflation, unemployment, economic growth, and international trade. Focuses on contemporary business issues.
Attention is given to the evaluation of contemporary issues and problems.
Students can speak effectively in front of a group or as part of a group. For example, the theories behind scarcity, exchange, demand and supply, specialization, and choice will be studied. The student should be able to locate current and relevant macroeconomic data and information on economic growth, inflation, unemployment, government expenditures, fiscal policy, monetary policy, and international trade directly from primary and secondary sources using the Internet. The student should be able to distinguish between positive and normative economics involving ethics and value judgments. The student should be able to discuss, debate, and critically analyze the consequences and choices facing the market economy in the United States using the background material provided by the textbook and supplemented by information obtained from the Internet.