Maui Community College
Course Outline
1. Alpha and Number:
ECON 131
Course Title:
Principles of Economics: Macroeconomics
Number of Credits:
3
Date of Outline:
March 19, 2004
2. Course Description:
Analyzes the forces determining national and
international economic performance in such areas as
employment, inflation, production, money supply and
trade. Presents, in historical context, the modern
economic situation. Describes the relative roles of major
economic institutions such as businesses, labor unions,
government agencies, international organizations, and
the banks.
3. Contact Hours/Type:
3 hours/lecture
4. Prerequisites:
Placement at ENG 100 and placement at MATH 27 or
100, or consent.
Corequisites:
Recommended Preparation:
Approved by
Date
5. General Course Objectives:
Students should come away from the course with a better understanding of how the United States
Economy operates. This knowledge should allow them to become better informed community
members, more effective participants in the labor market, and better informed participants in the U.S.
economy.
6. Specific Course Objectives, Competencies, and Student Learning Outcomes:
For assessment purposes, these are linked to #7. Recommended Course Content.
On successful completion of this course, students will be able to:
a) demonstrate an understanding of basic economic concepts; scarcity, resources, supply &
demand;
b) analyze and interpret current economic statistics such as; unemployment rate, cpi, ppi, gdp
growth rate, consumer confidence, productivity, and interest rates;
c) assess the health of the current u.s. economy based on current macroeconomic statistics;
d) explain the specific tools of classical and Keynesian macroeconomic analysis;
e) understand the relationship of the Federal Reserve System to the US government and the us
economy;
f) explain the tools used by fiscal and monetary policy to speed up or slow down the us economy;
tax cuts, tax increase, government spending cuts, government spending increases, interest rate
increases and interest rate decrease;
g) interpret and evaluate radio, television, and written news about the local and national economy.
7. Recommended Course Content and Approximate Time Spent on Each Topic:
Linked to #6. Student Learning Outcomes.
1-2 Weeks:
Resources, scarcity, Supply & Demand, Market Distribution (a)
1-2 Weeks:
Circular flow or the Business Cycle; Macroeconomic Statistics including GDP,
Unemployment Rate, Inflation Rate or Price Level (b, c, g)
1-2 Weeks:
Economic Challenges of Inflation and Unemployment, learn how these statistics
are calculated, and where to find the most current statistics (b, c, g)
2-3 Weeks:
Specific Macroeconomic theory and graphing. (e.g. Keynesian theory, Aggregate
Supply and Aggregate Demand, MPC, Multiplier) (d)
2-3 Weeks:
Fiscal Policy conducted by the US government, tools that they use, impact on
consumers, graphical presentation, current and historical use of Fiscal Policy (f,
g)
2-3 Weeks:
Monetary Policy conducted by the Federal Reserve System, tools used by the
Federal Reserve to carry out Monetary Policy, workings and structure of the
Federal Reserve, workings of the banking industry and interest rates. (e, f, g)
1-2 Weeks:
Long term economic growth in the United States Economy, current economic
statistics for the state of Hawaii (b, g)
8. Text and Materials:
Appropriate text(s) and materials will be chosen at the time the course is offered from those currently
available in the field. Examples include:
Text:
Principles of Macroeconomics, by Karl E. Case and Ray C. Fair. 6th edition.
Materials:
Handouts provided by instructor
Videotapes viewed in class,
Companion Internet sites that go with the textbook
Other instructional aids.
9. Recommended Course Requirements and Evaluation:
Specific course requirements are at the discretion of the instructor at the time the course is being
offered. Suggested requirements might include, but are not limited to:
Attendance and participation
Written assignments from the book and current news media
In-class exercises/assignments
Graphing and mathematical problems
Assignments using the Internet searching for current economic data
Written examinations
Evaluation and Grading:
Grading:
Three Unit Exams
One final Exam
Homework
Course grade:
90 – 100%
80 – 89%
70 – 79%
60 – 69%
Below 60%
50-100 points each
50-100 points
100 - 150 points total
A
B
C
D
F
10. Method of Instruction:
Instructional methods will vary considerably with instructors. Specific methods will be at the
discretion of the instructor teaching the course and might include, but are not limited to:
a.
b.
c.
d.
e.
f.
g.
PowerPoint slide overview;
textbook reading assignment;
mention of Hot Topics to explore in the news;
homework assignments;
live lecture;
group discussions;
videos shown in class;
h. to get the most out of class students need to come prepared, this implies having read the chapter
to be discussed and having listened to the news on radio or television, or having read the local
paper;
i. there will be ongoing discussions of current events and how they pertain to economics;
j. some of the homework will be completed during class time in small groups.