Course Outline

ECON 211 : Macroeconomics

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Last approved: Mon, 11 Jan 2016 19:36:03 GMT

Last edit: Mon, 11 Jan 2016 19:36:02 GMT

College of Arts & Sciences (WARSC)
This course is an introductory analysis of employment, inflation, recession, GDP economic growth, national income/output and international trade with an emphasis on practical policy alternatives. Macroeconomic aviation applications such as the counter-cyclical growth of start-up airlines and consideration of ATC privatization are incorporated.

This course is designed to give the student the necessary tools to understand the ideological framework of American capitalism, an understanding of the national banking system, as well as application of fiscal and monetary policies. In order to maintain student interest and better perform our mission, professors will utilize current aviation examples to illustrate these economic principles as frequently as possible.

Upon course completion, students will be able to:

1. Understand introductory economic concepts.

2. Identify and exemplify the difference among political systems, economic systems and economic policies.

3. Recognize the evolutionary characteristics of Capitalism or a Market Economic System; and demonstrate the ability to identify several of the alleged "virtues" and alleged "vices" of capitalism.

4. State the laws of demand and supply and define the terms: demand, quantity demanded, supply, and quantity supplied.

5. Explain the causes and predict the effects of changes in demand and supply on the equilibrium price/quantity.

6. Understand the unique peculiarities of such concepts as inflation, deflation, stagflation, economic growth, economic development, expansion, recession, employment theory and types of unemployment.

7. Describe the two approaches to determining Gross National Product (GDP) and state the relationship between GDP, Net Domestic Product (NDP), National Income (NI), Personal Income (PI), and Disposable Income (DI).

8. Define fiscal policy and demonstrate the mechanics of discretionary fiscal policy within the Keynesian framework.

9. State the fundamental objective of monetary policy, identify the three tools of monetary policy, and explain how each may be used to expand or contract the money supply.

10. State the reasons for a fractional reserve system of banking, describe the process by which the banking system creates and destroys money, and the assumptions that underlie the multiplier theory.

Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 

Web & Chat:
Text: (386) 968-8843
Library Phone:  (386) 226-7656 or (800) 678-9428

Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.

ActivityPercent of Grade
Input Grading Item100

Undergraduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
0 - 60% F

Graduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
0 - 69% F
Kelly Whealan George - 3/25/2015
Kelly Whealan George - 3/25/2015
Alan Bender - 3/25/2015
Dr. James Schultz – 3/25/2015
Key: 89