Heartland Community College
Master Course Syllabus
Division name: Business
Course Prefix and Number: ECON 102
Course Title: Principles of Macroeconomics
DATE PREPARED: July 15, 1992
DATE REVISED: July 31, 1998; March 4, 2004; January 23, 2009
PCS/CIP/ID NO.: 11-450601
IAI NO. (if available):
EFFECTIVE DATE OF FIRST CLASS: August 17, 2009
CREDIT HOURS: 3
CONTACT HOURS: 3
LECTURE HOURS: 3
LABORATORY HOURS: 0
CATALOG DESCRIPTION (Include specific prerequisites):
Prerequisite: Successful completion of ECON 101 with a grade of “C” or better, or equivalent.
Introduction to the American economic system with emphasis on macroeconomics including
national income accounting, employment theory, and fiscal and monetary policies.
TEXTBOOK(S):
Dolan, E. (2007). Introduction to economics, combined, (3rd ed.). Redding, CA: Best Value
Textbooks.
RELATIONSHIP TO ACADEMIC DEVELOPMENT PROGRAMS AND
TRANSFERABILITY:
ECON 102 fulfills 3 of the 9 semester hours of credit in Social Sciences required for the A.A. or
A.S. degree. This course should transfer as part of the General Education Core Curriculum
described in the Illinois Articulation Initiative to other Illinois colleges and universities
participating in the IAI. However, students should consult an academic advisor for transfer
information regarding particular institutions. Refer to the IAI web page at www.itransfer.org for
more information.
COURSE OBJECTIVES (Learning Outcomes):
Outcomes
Demonstrate a knowledge of the concepts of
scarcity, choice, and efficiency
Demonstrate a knowledge of the role of the
government in the U.S. economy
Demonstrate an understanding of the
measurements of inflation and unemployment
Demonstrate a knowledge of the economic
consequences of unemployment and inflation
Demonstrate a knowledge of aggregate
demand and aggregate supply, as well as U.S.
fiscal policy
Demonstrate a knowledge of fiscal policy and
how it affects national employment and
output. Explain some shortcomings
associated with fiscal policy, and describe
how fiscal policy impacts the federal deficit
and international trade
Demonstrate a knowledge of the U.S. banking
system and monetary policy
General
Education
Outcomes
CT2
PS2
DI1
DI3
CT1
PS3
Range of Assessment
Methods
Writing Assignments,
Exams, Quizzes, Discussion
Writing Assignments,
Exams, Quizzes, Discussion
Writing Assignments,
Exams, Quizzes, Discussion
Writing Assignments,
Exams, Quizzes, Discussion
CO2
DI1
DI3
Writing Assignments,
Exams, Quizzes, Discussion
CT3
Writing Assignments,
Exams, Quizzes, Discussion
COURSE/LAB OUTLINE:
The following topics are to be covered during the instructional process:
I.
II.
III.
IV.
V.
VI.
Introduction to Economics
A. The economizing problem
B. The production possibilities curve
C. Economic systems and planning
D. The simple circular flow model
Demand and Supply
Economic Functions of the Government
Measurement of Economic Performance
A. Determinants of GDP
Macro Economic Instabilities
A. Unemployment and inflation
Equilibrium Income and Employment
(household, business and international sectors)
VII.
VIII.
IX.
X.
XI.
XII.
Aggregate Demand and Supply
Fiscal Policy
US Money and Banking System
Money Creation
US Monetary Policy
Exchange Rates and Balance of Payments
METHOD OF EVALUATION (Tests/Exams, Grading System):
The final grade in this course will be determined by the total points earned through completion of
selected activities from the following:
Writing Assignments
Exams
Quizzes
Discussion
Attendance
Min. – Max.
25% - 100%
0% - 75%
0% - 75%
0% - 75%
0% - 5%
Letter grades will be based on the percentage of points earned in the course in accordance with
the following scale:
A = 90%-100%
B = 80%-89%
C – 70%-79%
D = 60%-69%
F = Below 60%
REQUIRED WRITING AND READING:
This course requires approximately 30-40 pages of reading per week or 500 per semester.
A minimum of 15 pages of college level writing is required in this course. Writing assignments
include papers of various lengths, essay exams and various projects as deemed appropriate by the
instructor.