Course
Discontinued
No
Course Code
ECON 1250
Descriptive
Principles of Macroeconomics
Department
Economics
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201710
PLAR
No
Semester Length
12 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Contact Hours
Lecture: 3 Hours
Seminar: 1 Hour
Total: 4 Hours per Week
Method(s) Of Instruction
Lecture
Seminar
Learning Activities
Lecture and Seminar.
Course Description
This course will provide the student with a framework for the analysis of models of income determination. The components of national income will be examined in the context of these models. Theory relating to the role of money and the potential role of government in the maintenance of both internal and external balance will be presented.
Course Content
- Introduction to macroeconomics.
- Measuring macroeconomic variables.
- Aggregate expenditure model of income determination.
- Aggregate demand-aggregate supply model of income determination.
- Business cycles and fluctuations in national income.
- Fiscal policy.
- The money supply, the banking system, the Bank of Canada and monetary policy.
- Trade theory, including comparative advantage, and protectionism.
- Balance of payments and macroeconomic policy.
- Foreign exchange rates.
Learning Outcomes
At the end of the course, the successful student should be able to:
- construct a model for national income determination and analyze the effects of a change in one of the variables, as in multiplier analysis;
- analyze the effects of inflation and deflation, and develop policy alternatives.
- apply the economic concepts of supply and demand to explain the determination of foreign exchange and interest rates;
- analyze the effectiveness of monetary and fiscal policies under fixed and flexible exchange rate regimes;
- analyze the policy options available to central authorities to maintain both internal and external balance in an open economy.
Means of Assessment
| Final Examination | 30% - 40% |
| Term Examination(s) | 30% - 70% |
| Assignments | 0% - 30% |
| Participation and/or Quizzes | 0% - 10% |
| Total | 100% |
THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.
Textbook Materials
Textbooks and Materials to be Purchased by Students
The main text is to be chosen from the following, as determined by the instructor:
- Lipsey, R.G., Purvis et al. Economics, Latest Ed. New York: Harper & Row.
- Mankiw, N.G. et al. Principles of Macroeconomics, Latest Ed. Thomson Nelson.
- McConnel, Campbell R., Brue et al. Economics, Latest Ed. Toronto: McGraw-Hill Ryerson Limited
- Parkin, Michael and Robin Bade. Economics: Canada in the Global Environment, Latest Ed. Don Mills: Addison-Wesley Publishers Limited.
- Supplementary material may be chosen from the following, as determined by the instructor:
Study guides for the above texts and the available software.
Prerequisites
BC Pre-Calculus 11. ECON 1101 recommended.