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PIMA COMMUNITY COLLEGE
Effective Term: Fall 2016
ECN 202HC
Macroeconomic Principles: Honors
Credit Hours: 3.00
Lecture Periods: 3.00
Lab Periods: 0.00
Description:
The study of the economy as a whole. Includes the production possibilities curve, market analysis; definitions of
gross domestic product, inflation, and unemployment; fiscal policy, monetary policy; and contemporary
macroeconomic issues. Also includes additional Honors content.
Recommendation: MAT 092. If any recommended course is taken, see a financial aid or Veteran's Affairs
advisor to determine funding eligibility as appropriate.
Information: Must quality for Honors program. Instructor or advisor/counselor approval may be required before
registering for this course. Honors Content may include: Intensive research using highest standards and best
practices for the discipline, and a significant number/variety of readings of both primary and secondary sources.
Also may include a high-quality, peer reviewed paper or project in a format appropriate for the discipline with
research presented in class or to a wider audience.
Course Learning Outcomes:
Upon successful completion of this course, the student will be able to:
1. Match descriptive changes to graphical changes on a production possibilities curve.
2. Explain market changes, specifically change in equilibrium price and quantity brought about by shifts in
market demand and market supply.
3. Use definitions of gross domestic product, inflation, and unemployment as a foundation for the
investigation of current economic realities.
4. Contrast Classical vs. Keynesian ideas about the effects on the economy in regards to fiscal policy
(government spending and taxes).
5. Formulate alternative understandings of the effects on the economy in regards to monetary policy,
including the role of the Federal Reserve.
6. Evaluate free market solutions to contemporary macroeconomic issues including deficits and debt,
international trade, retirement security, etc.
Outline:
I.
II.
III.
IV.
V.
The Production Possibilities Curve
A. Definition and characteristics
B. Points on, inside, outside
C. Inward and outward shifts
Market Analysis
A. Equilibrium, shortage, surplus
B. Shifts in supply
C. Shifts in demand
Definitions
A. Gross domestic product
B. Unemployment
C. Inflation
Fiscal Policy
A. Effects on the economy
B. Government spending
C. Taxes
Monetary Policy
A. Effects of the economy
B. Money supply
C. The Federal Reserve
VI. Contemporary Macroeconomic Issues
A. Deficits and debt
B. International trade
C. Retirement security
D. Analysis of other macroeconomic issues