Emphasis is placed on resource allocation effects of market structures and the manner in which these market structures affect the economic decisions of a business entity. Topics such as inflation, unemployment, and economic growth are examined. The role of monetary and fiscal policy in achieving macroeconomic objectives is emphasized. Particular attention is given to the theory of production and cost and to the effects of various market structures on resource allocation. A study of the functioning of the aggregate economy and the influences of monetary and fiscal policy on it.
Special emphasis is placed on the economics of inflation.
Investigates the role of the Federal Reserve and the impact of monetary policy on the aggregate economy. Content will vary according to the interests of students and faculty. Emphasis is placed on the manner in which economic ideas from the past have influenced those which dominate current thought. International and domestic effects of each international monetary system are examined. The application of microeconomics to the problems of monopoly, oligopoly, restraints of trade, and other market imperfections.