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Course Information
Course Number: ECON 1101
Course Title: Macroeconomics
Course Description: Fundamental economic ideas and the operation of the economy on a national scale. Production, distribution and consumption of goods and services, the exchange process, the role of government, the national income and its distribution, GDP, consumption function, savings function, investment spending, the multiplier principle and the influence of government spending on income and output. Analysis of monetary policy including the banking system and the Federal Reserve System.
Credits / Hours: 3
Section Number: ABCD
Pre/Co-requisites: CUNY Reading, Writing Proficient
Textbook: Principles of Macroeconomics 2e from OpenStax, Steven A. Greenlaw and David Shapiro, Print ISBN 1947172387, Digital ISBN 1947172395. The text is free in either PDF, ibooks or print format from: www.openstax.org/details/books/principles-macroeconomics-2e
Class Meetings
Online Space(s):
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In-person Location:
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Faculty Information
Professor(s) Name:
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Online Office Hours/Information:
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In-person Office Hours/Location:
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Contact Information
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Learning Outcomes
- Demonstrate an understanding the basic economic decisions that underlie the economic
process: What and how to produce goods and services and how they are distributed.
2. Understand the concepts of scarcity, choice and opportunity cost and apply these concepts to the analysis of the workings of a market economy.
3. Demonstrate a firm knowledge of the interrelationships among consumers, government, business and the rest of the world in the U.S. macroeconomy.
4. Identify the process of how the nation’s output of goods and services is measured through the national income and product accounts; clearly comprehend the income and expenditure approaches to measuring national output and national income.
5. Acquire the ability to clearly illustrate the specific roles and functions of monetary and fiscal policy in the economy and explain how these are applied to the process of shaping economic policy and stabilizing the economy, specifically with regard to controlling inflation, promoting full employment and facilitating economic growth.
6. Explain the process of how fiscal policy is enacted and how its functions – taxation and spending – are designed to achieve the goals of equilibrium between Aggregate Demand and Supply; develop a firm understanding of the differences between, and the specific roles of, discretionary fiscal policy and automatic stabilizers in stabilizing employment, income, growth, and prices during periods of recession and economic expansion.
7. Identify and analyze the role of the Federal Reserve System in setting monetary policy, and comprehend the objectives of the instruments used by the Federal Reserve to regulate the nation’s money supply (setting short term interest rates, conducting Open Market Operations and establishing bank reserves); develop the ability to distinguish the functions of these tools in controlling inflation, regulating the circulation of money in the economy, and promoting economic and income growth.
8. Develop an understanding of the impact of globalization on the U.S. economy particularly since the early 1970’s; examine the relationship between the changing structure of the U.S. macroeconomy and changes in U.S. and international trade policy; the impact on trade agreements of the decline of the U.S. manufacturing based economy to a service based economy.
Gen Ed Learning Outcomes
- KNOWLEDGE: To develop an introductory understanding of macroeconomic concepts, topics and theories of how to address macroeconomic problems
- SKILLS: Develop and apply the tools of macroeconomic analysis to critically question, analyze, and discuss economic problems and issues; Develop and strengthen the ability to discuss concepts and thoughts in writing.
- INTEGRATION: Apply the tools of macroeconomic analysis and the economic perspective to the understanding of other disciplines.
- VALUES, ETHICS, AND RELATIONSHIPS: Develop and understanding of and ability to apply diverse perspectives to the understanding of macroeconomic issues; work creatively with others in group problem solving; develop a respect for diverse viewpoints; apply the skills and concepts covered in the course to the analysis of related issues and concepts across other disciplines
Teaching/Learning Methods
Technology Requirements
Schedule
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Grading Policy
A = 100-93
A- = 92.9-90
B+ = 89.9-87
B = 86.9-83
B- = 82.9-80
C = 70.9-70
D = 69.9-60 F = 59.9
W = Withdrawal
Grading Breakdown (ex)
Midterm (25%)
Final exam (25%)
Participation: Open Lab discussion and posts (25%)
Timely completion of assignments (25%)
Class Etiquette & Netiquette
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Attendance/Participation
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Academic Integrity Policy
Students and all others who work with information, ideas, texts, images, music, inventions and other intellectual property owe their audience and sources accuracy and honesty in using, crediting and citation of sources. As a community of intellectual and professional workers, the college recognizes its responsibility for providing instruction in information literacy and academic integrity, offering models of good practice, and responding vigilantly and appropriately to infractions of academic integrity. Accordingly, academic dishonesty is prohibited in The City University of New York and is punishable by penalties, including failing grades, suspension and expulsion. More information about the College’s policy on Academic Integrity may be found in the College Catalog.
Course Resources
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