ECO 120: Global Macroeconomics
Course Objective and Description: The main objective of this course is to introduce students to the principles of macroeconomics from a global perspective and to encourage them to apply this knowledge in the critical evaluation of economic issues and policies. To achieve this end, we will examine various macroeconomic concepts such as gross domestic product (GDP), inflation, unemployment, fiscal and monetary policy, and economic growth. We will also develop models that can be used to analyze the impact of economic events and policies on various macroeconomic variables.
Broad Learning Goals: The goals of this course are for every student to
- Apply the model of the production possibilities curve to
illustrate the concepts of scarcity, choice, opportunity
cost, and economic growth.
- Use the supply and demand model to predict price and
quantity outcomes for markets, including markets for
- Define macroeconomic measures, including gross domestic
product, inflation, and unemployment, explain how each is
measured, and evaluate the limitations of the measurements.
Compare and explain differences in the levels of each
measure between countries.
- Use the model of aggregate demand and supply to evaluate
the short and long run impact of fiscal and monetary policy
on GDP, employment, and the price level.
- Describe factors that may influence economic growth and use these to explain international differences in growth and development.
Information for ECO 120 can now be found in D2L.