Principles of Macroeconomics
Study of the fundamentals of macroeconomics such as gross domestic product, consumer price index, unemployment rate, business cycle, national debt, and money supply. Emphasis on the historical significance of various economic theories, including classical, Keynesian, monetarist, and supply-side perspectives. The influence of various macroeconomic policies on individuals and social institutions is emphasized. Issues relating to the global economy including exchange rates, trade deficits, imports, and exports are also examined. 3 Credits (3 Lecture)
Principles of Microeconomics
Introduction to microeconomic theory with emphasis on the function of the free market economy. Utility maximization by consumers, profit maximization by producers under different market structures, government regulation, and distribution of income are among the topics examined. 3 Credits (3 Lecture)
Study of the international economic community with emphasis on the conceptual frameworks that affect international trade economic policies and second and third world economic development. Specific attention is given to balance of payments, exchange rate determination, investment and debt, multinational corporations, tariffs, quotas, the World Bank, the International Monetary Fund, the United Nations, and relevant historical and current political alliances. 3 Credits (3 Lecture) Prerequisite(s): ECO111 or ECO112. As needed.