ECON 305 - Macroeconomic Theory

Units: 3
Measurement and analysis of the determination of national income and employment; general price level; stabilization and growth.

Prerequisites: ECON 200, ECON 205 and ECON 210.
Equivalent Quarter Course: ECON 3005.
Possible Instructional Methods: Entirely On-ground, or Entirely Online.
Grading: A-F grading only.
Course Typically Offered: Spring ONLY

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Relate aggregate patterns to individual optimization in consumption choices, investment behavior, international trade, and labor demand and supply;
Predict the effect of changes in macroeconomic variables on aggregate demand and aggregate supply;
Apply the Solow model to determine how changes in resources, behavior, and technology affect a country’s growth path;
Calculate total factor productivity, and decompose GDP into trend and cyclical components;
Distinguish financial crises, such as the Great Depression and the Great Recession, from regular downturns in the business cycle;
Explain the connection between budget and trade deficits, and discuss the implications and sustainability of the national debt.