Dual Credit Economics

The course introduces the student to the basic concepts and tools of analysis in macroeconomics. It focuses on the operation of markets, the economy in both short and long run, economic fluctuations, money and banking, inflation, unemployment, fiscal and monetary policy and the international economy. Perhaps the most important objective of this class is to introduce the excitement of economics. We just went through one of the most difficult economic downturns in recent memory. At the very least you will improve your understanding of the why it occurred and how it may be fixed


REQUIRED COURSE TEXT : Macroeconomics – Hubbard and O’Brien, 6th Edition/Pearson



             Chapter 1                Introduction: Economics: Foundations and Models

             Chapter  2               Trade-offs, Comparative Advantage and the Market System

             Chapter  3               Where Prices Come From: The Interaction of Demand and Supply

             Chapter  7               Comparative Advantage and the Gains from International Trade

                       *1 st EXAM—Chapters 1,2,3,7                                                                                                TBA


            Chapter  8             GDP: Measuring Total Production and Income

            Chapter  9             Unemployment and Inflation

            Chapter  10           Economic Growth, Financial System and Business Cycles

            Chapter  11          Long-Run Economic Growth: Sources and Policies  

                     *2 nd EXAM—Chapters 8, 9, 10, 11 :                                                                                       TBA


           Chapter  12         Aggregate Expenditure and Output in the Short Run

           Chapter  13         Aggregate Demand and Aggregate Supply Analysis

           Chapter  14         Money, Banks and the Federal Reserve System

           Chapter  15         Monetary Policy

                    *3 rd EXAM—Chapters 12,13,14,15                                                                                           TBA


          Chapter 16          Fiscal Policy

          Chapter 17         Inflation, Unemployment and Federal Reserve Policy

          Chapter 18         Macroeconomics in an Open Economy

          Chapter 19         The International Financial System

                    *4 th EXAM—Chapters 16,17,18,19                                                                                         TBA