Course Number:     Economics 201


Course Title:      Principles of Economics I


Instructor:        Heath


Required Text:    McConnell, Campbell and Stanley Brue. Economics, 13th Edition, McGraw-Hill Publishing, 1996.
                  In addition to McConnell and Brue, various library readings will be assigned. Some of these 
		  are identified by brackets; others will be added.
		  All will be on reserve. See Course Content.
                    

Course             Introduction to macroeconomic concepts.
Description:       National income accounts, trade, public finance, governmental influences in price stabilization
		   and full employment.


Course             To introduce students to: 
Objectives:        1.  the general nature of an economic system, using the United States economy as the primary model;

                   2.  the language, concepts and quantitative methods of economics;

		   3.  the institutions and components of American Capitalism;

                   4.  the problems, policies and controversies inherent in any economic system, including the international relationships;

                   5.  the distinction between the capitalistic and command approach to achieving national economic goals; and

                   6.  deductive logic and reasoning.







Areas of Common
Body of Knowledge
Covered:                (b) Economic-Social-Legal Environment.   



Course Content:
                                                    
   I.  Introduction to Economics                                  
	A. Capitalism vs. Command Systems* (Chapt.4, 5)
       	B. Nature, Quantitative Methods, Logic and Reasoning (Chapt.1,2)
      	C. Supply and Demand (Chapt.3)

  II.  National Income, Employment, and Fiscal Policy        
       	A. Measuring National Output, National Income,
          and the Price Level (Chapt.7)
      	B. Macroeconomic Instability: Unemployment
          and Inflation (Chapt.8)
      	C.Building the Aggregate Expenditures Model(Chapt.9)
      	D. Aggregate Expenditures with Government and Foreign Trade (Chapt.10)
      	E. Aggregate Demand and Aggregate Supply (Chapt.11) 
       	F. Fiscal Policy (Chapt.12)

 III.  Money, Banking and Monetary Economics                 
      	A.  Money and Banking (Chapt.13)
      	B.  How Banks Create Money (Chapt. 14)
      	C.  The Federal Reserve Banks and
           Money Creation (Chapt.15)
      
  IV.  The Global Economy                                        
      	A.  Theory of International Trade (Chapt.37)
      	B.  Exchange Rates and Balance of Trade (Chapt.38)
      	C.  Growth and the Less-Developed Economies (Chapt.39)


   V.  Special Topics                                        
      	A.  Alternative Views of the Economy (Chapt.16)
      	B.  The Deficit and Government Spending (Chapt.18)
      	C.  Save the Planet
    





   For further instructions see the addendum (next page).