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Nov 01, 2024
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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. Possible Instructional Methods: On-ground or Online-Asynchronous. 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.
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