B ECON 301
Analysis of economy with attention to the business cycle, output of goods and services (GNP), inflation, unemployment, and government's fiscal and monetary policies. How the economy affects individuals and firms and how to deal effectively with the economic environment. Prerequisite: ECON 201; may not be repeated. Offered: AWSp.
First, we will review some of the main macroeconomic concepts such as output, unemployment, inflation, and interest rates. Then, we will look at short-run and medium-run macroeconomic models developed to explain economic events. We will wrap up the course by analyzing the impact of expectations on the economy and financial markets. The course has an applied “flavor" focusing on linking up textbook concepts with current events. You will have the opportunity to analyze and interpret economic data for the United States and other countries. We will also focus on concepts and tools used to evaluate financial instruments. Later courses in finance and business economics will give you the tools for making good choices among financial instruments. But in order to use these later tools you must master the topics of this course.
Student learning goals
Interpret and analyze macroeconomic data using macroeconomic principles and models.
Ability to work with economic and financial databases. (i.e Bureau of Economic Analysis, Bureau of Labor Statistics, U.S. Census Bureau, Federal Reserve Bank)
Ability to understand and interpret the daily news.
Ability to apply macroeconomic knowledge to provide meaningful cross-country comparisons;
Analyze and measure effects of fiscal and monetary policies;
Understand the current economic situation, as well as the economic history of the U.S. since the beginning of the 20th century;
General method of instruction
Lecture, group work, and other in-class activities.
Class assignments and grading
You will have to complete six assignments. Each assignment will require you to apply concepts and analytical tools studied in the course. On occasion, you will be asked to gather and analyze macroeconomic data (i.e. download data from economic databases, use EXCEL to do data analysis, and write up a paragraph explaining your findings). You have one week to do each assignment.
Assignments (25%), Midterm (35%), Final Exam (40%).