Economics 515
 

Course Number and Title: Economics 515 - Introduction to Economics

Catalog Description: A study of macroeconomic and microeconomic theories as they relate to the legal, social, and political influence affecting business enterprise. Emphasis on the role of economic theory in government and business decision-making. Recommended for students without any economics background.

Learning Objectives: Upon the completion of this course, the student should be able to demonstrate a basic understanding of the implications of changes in governmental fiscal or monetary policy, and how interest rates are determined and their role in personal and corporate decision-making. The student should also be able to demonstrate a basic understanding of how society's resource allocation decisions are made under different economic systems, and how exchange rates affect international trade as well as the basic arguments for and against free trade between nations. Furthermore, the student should be able to demonstrate a basic understanding of news related to the economy, the student should be better able to participate in the global economy, and critically apply economic concepts when participating as a citizen in a democratic society. The influence of political, social, legal and regulatory, environmental, and technological issues including global are taught through quantitative analysis and written and oral communication.

Specific Topics:

Required:
  • Market Model
  • Comparative Systems
  • Elasticity
  • National Income Accounting
  • Aggregate Demand and Supply
  • Banking System
  • Fiscal and Monetary Policy 
  • Macroeconomic Controversies
  • International Trade Theory
  • Foreign Exchange Rates
  • Balance of Payments
 Optional:

  • Government Regulation
  • Income Distribution
  • Public Goods and Taxation
  • Production and Cost Theory

Evaluation: One or more examinations will be given to provide a sound basis for evaluation. There will be at least a mid-term exam and a final exam. Other types of evaluation such as library assignments, homework, oral presentations, and written assignments may be used.

Curriculum Coordinator: Dr. Parker Ballinger