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ECN 102 Introductory Economics (Macro) (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, and considers the benefits and problems associated with international trade. Topics covered include the measurement of GDP, inflation and unemployment; Keynesian and Classical theories of output and price determination; the Federal Reserve System; the federal budget and the national debt; and the balance of payments. ECN 101 not prerequisite for ECN 102.