Introduction to Macroeconomics (201-0-40)
Instructors
Mark P Witte
Meeting Info
Harris Hall 107: Tues, Thurs 2:00PM - 3:20PM
Overview of class
An introduction to economics with an emphasis on macroeconomics (business cycles, inflation, unemployment, economic growth). The first three weeks cover aspects of general microeconomics that everyone should know, including how the market system works, how prices are determined, why shortages and surpluses occur, and basic industrial competition. Topics include: supply and demand, competition versus monopoly, comparative advantage in trade, taxation, and market failures. The last two-thirds of the class build on these tools to study the behavior of the economy as a whole, particularly in an international context. Topics include: inflation, unemployment, recessions, booms, fiscal and monetary policy, budget deficits, economic development of nations, international trade, and exchange rates.
Registration Requirements
Two years of high school mathematics. Basic algebra and graphing.
Learning Objectives
Upon successful completion of ECON201, students should be able to: (i) Think critically and apply learning- use the skills and knowledge learned in the class to solve new problems, and to assess implications and/or significance of personal decisions, global events, and government policy. The course is designed to help students develop an appreciation of economics as a way of thinking and approaching real-world problems. (ii) Communicate economic concepts more effectively- express your understanding of course content in respectful dialogue with others. (iii) Build community- interact with faculty and peers to develop a deeper understanding of the course material and to help others learn.
Evaluation Method
Two midterms, one final exam, weekly quizzes and homework. You will be expected to follow the economic news because this class covers events that are unfolding in real time. Further information about the class can be found on my webpage: https://sites.google.com/site/markwitteeconomics/home/economics-201-introduction-to-macroeconomics
Class Materials (Required)
Krugman & Wells Macroeconomics, 7th edition. McMillen, 2024, ISBN-13: 978-1-319-48151-3
Class Attributes
Social and Behavioral Science Foundational Discipl
Social & Behavioral Sciences Distro Area
Associated Classes
DIS - Technological Institute L221: Wed 9:00AM - 9:50AM
DIS - Shepard Hall B25: Wed 10:00AM - 10:50AM
DIS - Technological Institute M128: Wed 5:00PM - 5:50PM
DIS - TBA: Wed 6:00PM - 6:50PM
DIS - Technological Institute M128: Wed 9:00AM - 9:50AM
DIS - TBA: Wed 6:00PM - 6:50PM