ECON 221 - Principles of Macroeconomics

Formerly: BUS 221

General economic concepts will be examined by covering the following: the nature and method of economics, an introduction to the economizing problem, pure capitalism and the circular flow, understanding individual markets - demand and supply, the fundamental market questions, the economic functions of government, the facts of American capitalism - the private sector and the public sector, measuring national output, national income and the price level, macroeconomic instability - unemployment and inflation, aggregate demand and aggregate supply, classical and Keynesian theories of employment, equilibrium national output in the Keynesian model, fiscal policy, money and banking, how the banks create money, the Federal Reserve banks and monetary policy, budget deficits and the public debt, and economic growth.
Prerequisite(s): 20 credit hours completed and MTH 104 or BUS 158 or appropriate placement by college assessment.
3 credits = 3 lecture

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