ECON 102 – Principles of Macroeconomics
Elements of the theory of macroeconomics and of Canadian institutions and policy concerning the cycles of business and economic growth, national income accounting, interest and exchange rates, money and banking, and the balance of trade.
LEARNING OUTCOMES:
At the end of the term, students should be able to:
• understand the meaning and importance of macroeconomic variables such as national income, unemployment, inflation, interest rates, and trade flows
• explain what is aggregate demand and aggregate supply
• understand why households, businesses, governments and net exports determine the aggregate demand for goods and services
• understand the meaning of equilibrium national income and how the economy reaches equilibrium
• explain how government can use its fiscal and monetary policies to influence the level of national income and reduce inflations and recessions.
• explain and evaluate the economic challenges of unemployment, inflation, and low economic growth.
• discuss budget deficits and the public debt
• explain the current debates about international engagement
• understand factors that contribute to and detract from long-term economic growth
• explain the various situations in which a country may rationally choose to protect some industries, and
• explain the various factors that cause changes in the exchange rate
Sample Grading Scales
Four Quizzes………………………………………………………………………………………………………………..40%
Midterm Exam………………………………………………………………………………………………………………25%
Final Exam…………………………………………………………………………………………………………………..35%
