Principles of Macroeconomics

Curriculum Guideline

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Course
ECON 1250
Discontinued
No
Course Code
ECON 1250
Descriptive
Principles of Macroeconomics
Department
Economics
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
202220
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
  1. Introduction to macroeconomics.
  2. Measuring macroeconomic variables.
  3. Aggregate expenditure model of income determination.
  4. Aggregate demand-aggregate supply model of income determination.
  5. Business cycles and fluctuations in national income.
  6. Fiscal policy.
  7. The money supply, the banking system, the Bank of Canada and monetary policy.
  8. Trade theory, including comparative advantage, and protectionism.
  9. Balance of payments and macroeconomic policy.
  10. Foreign exchange rates.
Learning Outcomes

At the end of the course, the successful student should be able to:

  1. construct a model for national income determination and analyze the effects of a change in one of the variables, as in multiplier analysis;
  2. analyze the effects of inflation and deflation, and develop policy alternatives.
  3. apply the economic concepts of supply and demand to explain the determination of foreign exchange and interest rates;
  4. analyze the effectiveness of monetary and fiscal policies under fixed and flexible exchange rate regimes;
  5. 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.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

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 OR currently active in the

PDD Accounting or

PDD Accounting Studies or

PDD Global Banking and Economics or

PBD Accounting. 

ECON 1101 recommended.

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses
Which Prerequisite

With ECON 1150:

ECON 2350 and ECON 2408 and ECON 2418 and ECON 2490 and ECON 2491 and

ECON 4495 and FINC 3305