ECON& 202 - Macro Economics

• Define and explain economic terms.
• Use formulas to calculate values for given data. Such as, elasticity, time value of money, costs, revenues, and Profit.
• Create graphical representation of data. Such as, production function, cost curves, supply, demand, indifference curve, production possibilities curve, budget line.
• Interpret graphs to detect patterns.
• Interpret data to make economic decisions.
• Evaluate the effects of changes in demand and supply on the market price and equilibrium quantity and explain the rationing function of prices.
• Describe advantages and disadvantages of various forms of business organization.
• Compare and contrast characteristics and output / pricing decisions of perfectly competitive firms to the imperfectly competitive solutions.
• Explain the rationale for government regulation of business and their effects.

1. Defining Economics
2. Scarcity and Trade-offs
3. Comparative Advantage and Trade
4. Demand and Supply
5. The Price System and Markets
6. The Public Sector
7. Taxes, Transfers and Public Spending
8. Business Fluctuations, Unemployment, Inflation and Deflation
9. Circular Flow Model of the Economy
10. National Income Accounting methods
11. Economic Growth
12. Aggregate Demand and Aggregate Supply
13. Classical versus Keynesian Macro Analysis
14. Consumption Function
15. Fiscal Policy
16. Deficit Spending and Public Debt
17. Money Creation and Banking
18. Monetary Policy