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Apr 23, 2024
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2020-2021 Academic Catalog [ARCHIVED CATALOG]
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ECON 201 - Principles of Economics-MACRO 3 CR
A study of the American economic system including the basic tenets of the private enterprise system; national income accounting, economic instability, unemployment inflation; modern theory of income employment, employment and prices; fiscal and monetary policy; banking system (including the Federal Reserve); and related contemporary macroeconomic issues. Lab Fee
Requisites: Next Gen ACCUPLACER® reading score of 244, or at least a grade of C in TSRE 55 .
General Education Requirement: Critical Thinking - General Education Core
Michigan Transfer Agreement Requirement: Social Sciences
Course Learning Outcomes:
- Explain basic economic theories and understand their application to economic policy issues.
- Identify and explain basic economic terms and methods used to measure economic activity.
- Explain the role of supply and demand within the U.S. economy.
- Identify factors that affect the demand for goods and services.
- Explain the costs of production and their impact on employment and capital decisions.
- Investigate the types of market structures and how they impact business activity and profit.
- Determine the role of labor, its impact and costs related to business and production decisions.
- Explore the policy options related to taxation and transfer payments.
- Examine the role and characteristics of financial markets.
- Assess the impact of the global economy and its impact on domestic economic policy.
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