Following the traditional economic framework that emphasizes a marginalist approach, the objectives of various economic agents are identified and pursued subject to market imposed constraints. Numerous market structures are identified and examined in light of government participation in our competitive, global economy. As time permits, recent advances in Economic Theory are explained, and their application and implications exposed. Provides the student with a firm understanding of the forces affecting change in the U.S. economy with an eye toward the impact of policy and international business. Basic theoretical models used by business analysts and governmental policy makers are covered and their predictions are coupled with recent economic events.
Special attention is paid to the conduct and impact of fiscal, monetary, and trade policy.
This course focuses on the economic forces affecting the process of organizing economic activity. The primary tools of analysis are imperfect information, transaction costs, and the voluntary pursuit of efficiency. Of central importance are the roles of many institutions in channeling funds from lenders to borrowers. The roles of the federal government and the Federal Reserve System in influencing macroeconomic performance are considered in the context of modern economic theory. Many of the experiences provided by an undergraduate business program are integrated into this look at the Maryland economy.