Department __ECONOMICS__________________________________________ Date ________1-24-12_________
_ECON 202___________
Course No.
_PRINCIPLES OF MACROECONOMICS__ ________________ _____3________
Course Name Credits
Prerequisites______N/A____________________________________________________
GEP Goal Area(s):*
CORE GOAL AREAS
_____Goal 1: Communication
_____ Goal 3: Natural Science
_____Goal 4: Mathematics/Logical Reasoning
_____Goal 5: History and the Social and Behavioral
Sciences
_____Goal 6: The Humanities and Fine Arts
THEME GOAL AREAS
_____Goal 7: Human Diversity
___X_Goal 8: Global Perspective (Note: Course already approved for Goal Area 5)
_____Goal 9: Ethical and Civic Responsibility
_____Goal 10: People and the Environment
* Courses may be submitted for up to two Goal Areas.
Additional Requirement Categories:
_____Intensive:
_____ 1. Writing
_____ 2. Oral Communication
_____ 3. a. Mathematics/Statistics
_____ b. Critical Analysis
_____ Physical Development and Wellness
Provide information as specified in the previous directions.
Attach a General Education Program Approval Form .
Department Contact Person for this Proposal:
Gabriel Manrique______________________________
Name (please print)
_5193_________ gmanrique@winona.edu_________
Phone e-mail address
[Revised 9-6-11]

Credits: 3
Lecture Hours/Week: *.*
Lab Hours/Week: *.*
Prerequisites: None
Corequisites: None
OJT Hours/Week: *.*
MnTC Goals: Goal 08 – Global Perspective
National income analysis; aggregate demand-and-supply; money and banking; business cycles, monetary and fiscal policy. Recommended prerequisite: University Studies math requirement.
1. An Introduction to Economics and the Economy a. Scarcity, trade offs, and opportunity costs b. The market system and the circular flow of the economy
2. The Market Mechanism a. Demand, supply and equilibrium b. Elasticity concepts c. Market failures and externalities
3. The Data of Macroeconomics a. Measuring GDP and national income b. Economic growth c. Business cycles, inflation, and unemployment
4. Macroeconomic Models a. Basic macroeconomic relationships b. The aggregate expenditures model c. Aggregate demand and aggregate supply
5. Fiscal Policy a. Government spending b. Taxation c. Deficits d. National debt
6. The Monetary System a. Banking and financial institutions b. Money and money creation
7. Monetary Policy a. Interest rates b. Monetary policy c. Financial economics
8. International Economics a. International trade b. Balance of payments and trade deficits c. Foreign exchange rates d. Developing countries
9. Current Issues in Macroeconomics

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1.
Apply the important concept of tradeoffs that are required for economic decisions under conditions of scarcity.
2.
Explore different economic theories and models.
3.
Utilize economic data from different sources including the national income accounts to understand economic systems.
4.
Use mathematical and graphing tools to analyze the economy.
5.
Gain an understanding of the connections among important segments of an economy.
6.
Demonstrate the relevance of economic theories and policies through the integration of current events.
7.
Analyze the effects of fiscal and monetary policies on the economy.
8.
Recognize the important linkages between the USA and the world economy.
9.
Learn the role of money, the Federal Reserve, and banking institutions in the economy.
10.
Understand the impact of economic developments on society and the impact of social and political developments on the economy.
Goal 08 – Global Perspective
1.
Describe and analyze political, economic, and cultural elements which influence relations of states and societies in their historical and contemporary dimensions.
2.
Demonstrate knowledge of cultural, social, religious and linguistic differences.
3.
Analyze specific international problems, illustrating the cultural, economic, and political differences that affect their solution.
4.
Understand the role of a world citizen and the responsibility world citizens share for their common global future.
See table below.
None noted

Describe and analyze political, economic, and cultural elements which influence relations of states and societies in their historical and contemporary dimensions.
Throughout the course students learn, through the application of economic theories and concepts to current events and historical examples, about the interdependence of countries and societies in a truly global economy.
Demonstrate knowledge of cultural, social, religious and linguistic differences
Analyze specific international problems, illustrating the cultural, economic, and political differences that affect their solution.
Understand the role of a world citizen and the responsibility world citizens share for their common global future.
In their studies of fiscal and monetary policies as well as international trade policies, students learn about the difficulties of coordinating policies and outcomes among countries because of differing levels of economic development, economic and political pressures on policy makers, and the complexities of the world economy.
Learning about economic interdependence provide students an opportunity to understand that their important concerns about employment, standards of living, price stability, and the environment cannot be divorced from developments in other parts of the world. Likewise, that economic decisions made in the USA have a significant impact on the rest of the world.
Students are evaluated on their ability to incorporate current and recent world events into their answers and analysis of problems.
Students are evaluated on their understanding of basic international trade theory, foreign exchange, and protectionism. Students are also evaluated on their understanding of fiscal and monetary policies and relevance of global issues to economic policy decisions.
Students are evaluated on their ability to calculate and explain measures of standards of living across countries, unemployment, inflation, foreign exchange rates, balance of payments, and various socio-economic indicators.

Routing form for General Education Program Course approval. Course____Econ 202__________
Department Approval
_________________________________
Department Chair
________________
Date
____________________________________________ e-mail address
Dean’s Recommendation
_____ Yes _____ No*
_________________________________
Dean of College
________________
Date
*If the dean does not approve the proposal, a written rationale shall be provided to the General Education Program Subcommittee.
GEPS Recommendation _____ Approved
_________________________________
General Education Program Director
_____ Disapproved
________________
Date
A2C2 Recommendation _____ Approved _____ Disapproved
_________________________________
Chair of A2C2
________________
Date
Faculty Senate Recommendation _____ Approved _____ Disapproved
_________________________________
President of Faculty Senate
________________
Date
Academic Vice President Recommendation _____ Approved
_________________________________
Academic Vice President
________________
Date
_____ Disapproved
Decision of President _____ Approved _____ Disapproved
_________________________________ ________________
Date President
Please forward to Registrar.
Registrar _________________
Date entered
Please notify department chair via e-mail that curricular change has been recorded.
[Revised 7-13-11]