Four, (4) hour test will be given for a total of 400 points. Ten (10) pop quizzes will be given for a total 100 points.

This course is designed to develop the student's ability to identify and understand macroeconomics principles involving the functioning of the aggregate economy; the determination and analysis of national income, employment, inflation, and stabilization; monetary and fiscal policy; and aspects of international interdependence.

Upon successful completion of this course the students should be able to:

1. The student should identify the economic problem and the function of an economic system as a means of allocating resources.
2. The student should be able to explain the concepts of scarcity, opportunity costs, and marginal analysis.
3. The student should be able to identify how price and output decisions respond to supply and demand.
4. The student should be able to describe and demonstrate gross national product and the equilibrium level of GNP; he/she should identify the principles of national income determination.
5. The student should demonstrate the uses of fiscal and monetary policy to effect equilibrium.
6. The student should be able to illustrate economic policies for current domestic problems and issues; e.g., inflation, unemployment, and poverty.
7. The student should identify the long-range problems of economic growth and international economic relations.

Bibliography:

• Wall Street Journal
• Barron's
• Investor's Business Daily
• Fortune
• Business Week
• Smith, Adam. An Inquiry into the Nature and Causes of the Wealth of the Nation. New York: The Modern Library, 1937
• Turner, Frederick Jackson. The Frontier in American History. New York: Holt, Rinehart and Winston, 1962.
• Weber, Max. The Protestant Ethic and the Spirit of Capitalism. New York: Scribner's, 1958.

Class Schedule: