Measured Learning Outcomes -- Ability to:
- Define economics, economic methods and economic policy
- Explain the organization of economic activity: markets, governments, and nations
- Demonstrate supply and demand analysis
- Describe unemployment, inflation, and economic fluctuations
- Measure output, income and economic growth
- Distinguish between aggregate demand and aggregate supply
- Compare classical macroeconomics and the Keynesian concept
- Describe fiscal policy considering taxes and government spending
- Explain budget debt and the concept of the national debt
- Explain the role of money in a market economy
- Explain banking and the Federal Reserve System
- Analyze financial markets and interest rates
- Summarize monetary policy with reference to theories and practice
- Examine stabilization policy issues
- Analyze aggregate supply and economic growth
- Explain the challenge of economic development
- Examine issues related to trade among nations
- Describe factors that determine international finance and exchange rates
- Evaluate emerging markets and economies in transition