Presents economic theories used as tools for critical thinking to show how the U.S. economy operates. Emphasis on causes and consequences of unemployment and inflation and how they affect the well-being of Americans. The use of government spending, taxation, and the monetary system to promote full employment and stable prices will be examined. Explores role of energy and natural resources in shaping our economic future. This class may include students from multiple sections. (Social Sciences, Elective)
Prerequisites
AMATH 121 or MATH 90/91 and ENGL&101
Course Outcomes
- Students will access and use primary data from the BEA and BLS to describe the business cycle using macroeconomic performance indicators.
- Students will apply alternative theories (Classical, Marxist, Institutionalist, Keynesian and Monetarist) to explain the business cycle.
- Students will use algebraic and graphical analysis to design and assess the impacts of fiscal and monetary policy.
- Students will access primary data of macroeconomic performance from the BEA, BLS and Census to create spreadsheets and construct trendlines to evaluate the impacts of fiscal and monetary policy.
- Students will describe the historical events shaping the evolution of economic society and theories describing macroeconomic outcomes.
- Students will use critical thinking – the use of empirically grounded reason to understand phenomena of interest – to evaluate claims about the impact of fiscal and monetary policy on macroeconomic performance.