Students will understand quantitative problems. Students will use mathematical logic and calculations to understand economic measurements and concepts Equations and calculations used for topics of price indexes, Gross Domestic Product, elasticity, bank regulation, fiscal policy, monetary policy, hiring decisions and economic growth. Students will be able to use a computer. Students will utilize a computer program to balance the federal budget to provide the basis for the class paper. Paper assignment is based on balancing the federal budget using a computer program with 200 possible spending cuts and 100 tax increases.
Students are willing to receive information and respond to it.
Students will apply economic concepts and information to real life situations and decisions. Paper assignments, Problem Sets and In-class Worksheets will require students to apply economic concepts and information. Students develop values, organize them into systems, and apply those systems to their private and public lives. Students will recognize the positive and negative effects of a capitalistic economic system as well as the positive and negative effects of government involvement in that economic system. Lectures, In-class worksheets and Problem Sets focusing on Supply and Demand, Fiscal Policy, Externalities, Public Goods, Government Regulation, Distribution of Income and Economic Growth 9.