Discipline: Economics Degree Credit  [X]
Non Credit  [ ]
Nondegree Credit  [ ]
Comm Service  [ ]
 

Riverside Community College District
Integrated Course Outline of Record

Economics 7


COURSE DESCRIPTION
7 Macroeconomics Units: 3.00
 
Prerequisite(s): None.

Advisory: Qualification for English 1A and Math 52.
Economic theory and analysis as applied to the U.S. economy as a whole. Emphasizes aggregative economics dealing with the macroeconomic concepts of national income and expenditure, aggregate supply and demand, fiscal policy, monetary policy, and economic stabilization and growth. 54 hours lecture.
 
SHORT DESCRIPTION FOR CLASS SCHEDULE
Economic theory and analysis as applied to the U.S. economy as a whole.
 
ADVISORY ENTRY SKILLS
Before entering the course, students will be able to:
  1. Critically discuss and analyze primary and secondary texts, recognizing key ideas and responding in both oral and written form;

  2. Analyze, synthesize, and evaluate concepts studied in primary and secondary texts using critical thinking skills;

  3. Compose and develop unified, stylistically competent writing assignments and adjust writing to the target audience with intermediate to advanced skill;

  4. Understand, create and apply graphical analysis;

  5. Manipulate simple algebraic equations.
STUDENT LEARNING OUTCOMES
 Upon successful completion of the course, students should be able to:
  1. Describe, analyze and evaluate economic concepts, paradigms, and theories of the macro-economy.
  2. Identify major current macroeconomic problems and use economic theory to analyze and evaluate the problems.
  3. Identify current governmental policies to remedy the macroeconomic problems and assess the effectiveness of these policies.
  4. Evaluate the impact of macroeconomic policies on such issues as:  the distribution of wealth and income, economic growth, and the global economy.
 
COURSE CONTENT
  TOPICS
 


1.   Overview:  Our Economic System
      a.   Our Mixed Economy:  Resources, Goals and Institutions
      b.   The Laws of Supply and Demand:  the Price System
      c.    in a Market Economy
      d.   The Private Sector – Households and Businesses:
            Income and Industrial Structure
      e.   The Public Sector – the Role of Government in the Economy
2.   National Income, Employment, and Fiscal Policy
      a.   Measuring National Income and Product
      b.   Economic Instability:  Business Cycles, Unemployment,
            and Inflation
      c.   Introduction to Classical Economics
      d.   Introduction to Keynesian Economics
      f.   Income and Employment Determination:  the Income-
      g.   Expenditure and Income-Price Models
      h.   Fiscal Policy and the National Debt
3.   Monetary Economics and Macroeconomic Equilibrium
      a.   Money, Financial Markets, Banking Institutions, and the
      b.   Federal Reserve System
      c.   Money Creation
      d.   Central Banking:  Monetary Theory and Monetary Policy
      e.   Macroeconomic Equilibrium
4.   Macroeconomics Today:  Ideas, Issues, and Policies
      a.   Monetarism and the New Classical Economics
      b.   Macroeconomic Issues:  Unemployment and Inflation,
      c.   Stagflation, and Supply-side Economics
      d.   The International Economy

 

 
 
METHODS OF INSTRUCTION
 Methods of instruction used to achieve student learning outcomes may include, but are not limited to:

  • Conduct classroom lecture, online discussions, and demonstrations in order to develop the necessary understanding of the macro-economy, it’s problems, and policies.
  • Create and have students participate in small group analysis of macroeconomic problems and policies both in-class and/or online.
  • Develop and assign class and/or computer-based exercises in order to have students practice identifying and applying economic analysis to current macroeconomic problems and policies.
  • Create and have students participate in active learning techniques in order to engage students more actively in the learning process.

 
 
METHODS OF EVALUATION
 Students will be evaluated for progress in and/or mastery of learning outcomes by methods of evaluation which may include, but are not limited to:

  • Exams designed to assess the students’ ability to grasp concepts, paradigms and theories of the macro-economy, it’s problems, and policies to alleviate the problems.
  • Short papers designed to assess the students’ ability to analyze macroeconomic concepts, paradigms, theories, problems, policies, and the results of those policies.  These papers are also assigned to help students’ learn the material by writing and contemplating.
  • Class and individual projects designed to assess the students’ ability to gather information, analyze materials and test results.
  • Class participation/demonstrations/oral reports designed to engage students in the dialogue of the macro-economy.
ASSIGNMENTS

Required Reading Assignments


Required Writing Assignments


Other Outside-of-Class Assignments
 
COURSE MATERIALS
 All materials used in this course will be periodically reviewed to ensure that they are appropriate for college level instruction. Possible texts include:

  • Baumol, W. and Blinder A. . Principles of Macroeconomics. 10 ed. any: Learning, 2005.
  • Colander, David C. . Macroeconomics. 6 ed. any: McGraw-Hill/Irwin, 2005.
  • McConnell, C. and Brue, S. . Macroeconomics. 17 ed. any: Worth Publishing, 2006.
  • Taylor, John B. . Principles of Macroeconomics. 5 ed. any: Southwestern College Publishing, 2006.
  • Schiller, Bradley. Macroeconomics Today. 10th ed. McGraw-Hill Irwin, 2005.
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