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 currencies.
  
  
• 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.

ECO 120 Weekly Update:

Information for ECO 120 can now be found in D2L.