A macroeconomic study of the U.S. economy as a system for solving the fundamental problems of how a society uses its material resources. Emphasis is given to national income, inflation, unemployment, international trade, business cycles, and the monetary system. 5 lecture hours. Satisfies social science distribution area B requirement or specified elective for the AA degree.
Prerequisites: MATH 060; READ 080 or instructor permission.
- Explain the fundamental concepts of market economics.
- Understand and describe the concepts and methods of macroeconomic measurements.
- Describe and explain the roles of international trading arrangements
- Describe and critique the tools of fiscal and monetary policy.
- Ability to apply economic reasoning to current events.