[ECO 203] Economics-Macro

Introduction

This course serves as an introduction to the theories and problems of the economy as a whole. Topics include supply and demand, macroeconomic measurement such as GDP, inflation, and unemployment, macroeconomic relationships and models, and fiscal and monetary policy. Students will learn how the economy works by solving quantitative problems and using graphs to illustrate the relationship between economic variables. Students will apply economic theory in the analysis of current economic issues. After taking this course, students will be familiar with economic terminology which will make the business news easier to understand. Students' understanding of theory will enhance their understanding of what is happening in the economy and better predict the future ramifications of current economic events and policy and they will become a better informed voter. This course will provide students with tools that can be applied to the enhancement of their personal economic situation. And finally it will provide them with the necessary foundation for further course work in the field of economics.

Description

UW Colleges Catalog Course Description for ECO 203: Economics-Macro - 3 credits. The emphasis of the course is on macro analysis and covers areas such as national income, commercial banking, business fluctuations, monetary and fiscal policies and economic growth. Designed for students who desire a basic one-year course (with ECO 204) in economics. This course fulfills the UWC requirement for Social Sciences (SS).

Prerequisites: MAT 105 and ENG 101 or consent of instructor recommended.

This course will focus on enhancing the students' understanding of:

• the basic economic problem of scarcity,
• the supply and demand model,
• national income accounts,
• fiscal and monetary policy,
• the operation of the Federal Reserve System, and
• macroeconomic policy application to the analysis of current economic problems.

Proficiencies

Institutional proficiencies assigned to this course

Successful completion of this course will enhance students' ability to

• interpret and synthesize information and ideas;
• analyze and evaluate arguments;
• solve quantitative and mathematical problems;
• interpret graphs, tables, and diagrams;
• read, observe, and listen with comprehension and critical perception;
• demonstrate a large and varied vocabulary.

Requirements

In addition to homework assignments, students will have group discussion assignments during the semester. Individual assignments are designed to provide students with insights to the key concepts covered in each chapter of the textbook. Group assignments are designed to foster working relationships within a team atmosphere. Such working relationships are common in the workplace and in academia, so it is important to start developing those skills now!

Software

• Microsoft Word and Excel.

  The most current edition of MS Office (containing MS Word, Excel and other valuable programs) is available to University of Wisconsin students at discounted prices through the Wisconsin Integrated Software Catalog.

About the Instructors

• Hanafiah Harvey
  Associate Lecturer, Business-Economics
  BSc, Southern New Hampshire University
  MBA, Southern New Hampshire University
  MA, Old Dominion University
  PhD, University of Wisconsin
  
• Julie Urban
  Assistant Professor, Business/Economics
  BA, Valparaiso University
  MA, University of New Mexico
  PhD, University of New Mexico