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Nov 04, 2026
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ECON 201H - Principles of Macroeconomics (Honors)
PREREQUISITES: Admission into the Honors College
PROGRAM: Social Sciences
CREDIT HOURS MIN: 3
LECTURE HOURS MIN: 3
DATE OF LAST REVISION: Fall 2018
A descriptive and analytical study of fundamental concepts of national economics. It includes an analysis of the determination and fluctuations in national income and employment, monetary and fiscal policy, and international trade and finance. Economic analysis of monetary and fiscal policies is stressed.
MAJOR COURSE LEARNING OBJECTIVES: Upon successful completion of this course the student will be expected to:
- Describe and discuss alternative measures of macroeconomics performance and their limitations.
- Demonstrate how supply and demand interact to determine market prices.
- Demonstrate how the tools of aggregate demand and aggregate supply are used to determine macroeconomics equilibrium.
- Describe the nature, creation, and valuation of money within the macroeconomy.
- Describe and evaluate the dynamics and effectiveness of fiscal and monetary policy.
- Describe the basis of, and gains from, international trade.
- Analyze the consequences of trade for international financial flows.
- Compare and contrast various schools of thought with regard to monetary and fiscal policy.
- Contrast various ways in which different economic systems allocate scarce resources within society.
- Differentiate between the main macroeconomic theories of the business cycle.
- Examine the historical development of macroeconomics.
- Demonstrate advanced skills in analysis, synthesis, and evaluation (at a higher level than the general student population) as demonstrated through assessment.
- Conduct comprehensive research that demonstrates an advanced understanding of research methodologies and their implications for positive as well as normative economic analysis.
- Demonstrate preparation for future undergraduate and graduate studies through examples of leadership, high levels of scholarship and dedication to learning.
- Develop collaboration and camaraderie with student and faculty scholars, creating a strong network for mutual, intellectual, and social support.
COURSE CONTENT: Topical areas of study include -
- Aggregate Demand
- Gross domestic product
- Aggregate Supply
- Growth and productivity
- Austrian School
- International Trade
- Balance of payment analysis
- Interest rates
- Business cycles
- Keynesian School
- Capital accumulation
- Macroeconomic equilibrium
- Chicago School
- Monetary policy
- Components of a market economy
- Money
- Deflation
- Multiplier effects
- Economic Interdependence
- Nominal and real value
- Exchange rate
- Production
- Federal Reserve Banking System
- Unemployment
- Fiscal policy
- Advanced research methods
- Full Employment
- Income analysis
Course Addendum - Syllabus (Click to expand)
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