ECN 102 Introduction to Economics (Macroeconomics) (3 credits)

Theoretical models of the economy as a whole show what determines the level of national output, employment, and prices, and how these might be stabilized by the proper fiscal and monetary policies. The course also looks at the mechanism by which our money supply changes. Topics covered include the measurement of GNP, inflation and unemployment; Keynesian and Classical theories of output and price determination; expenditures and money multipliers; the Federal Reserve System; the federal budget and the national debt; and the balance of payments.