Course Outline "Macroeconomic key factors and their impact on business (B 51)"

Instructor: Dr. Kenrick H. Jordan, Coastal Carolina University

Course Objective

This course introduces students to key macroeconomics issues and highlights their implications for business performance. Some key considerations will include business cycles, unemployment, inflation, interest rates, productivity, technological change, and economic growth.

Course Outline

Module 1: Discussion of the meaning of economics, addressing wants, resource scarcity and opportunity cost; presentation of basic concepts in, and approaches to, economic analysis; discussion of the method of economic analysis
Module 2: Presentation of the benefits of comparative advantage, specialization, and exchange; discussion of major types of economic systems; and introduction of the production possibilities frontier as a model of the economy
Module 3: Understanding the roles of major decision-making groups in the economy
Module 4 Presentation of the basic supply and demand framework, including a consideration of markets and equilibrium prices and quantities; and discussion of disequilibria that can arise from government intervention
Module 5: Introduction of broad concerns of macroeconomics, including the determination of equilibrium levels of prices and real GDP in the economy
Module 6: Understanding GDP and the factors influencing it, including price indices, productivity, technological change, and growth
Module 7: Consideration of two key macroeconomic issues – unemployment and inflation – covering their definition, measurement and effects
Module 8: The composition of aggregate expenditure – consumption, investment, government spending, and net exports
Module 9: Setting out the basics of fiscal policy and its implications
Module 11: An overview of the U.S. federal budget, the national debt, and their economic implications
Module 12: The role of money in the economy and an overview of U.S. financial institutions
Module 13: The importance of the U.S. Federal Reserve and an illustration of the tools the Federal Reserve for controlling the money supply
Module 14: An overview of U.S. monetary theory and policy
Module 15: The merits of active versus passive monetary policy

Teaching Method

The course will be delivered in interactive lecture format, with active learning exercises. The language of instruction is English.

Prerequisites

Formal requirements: Full-Time students of Business Administration (B.A.) in the Faculty of Business and Social Sciences.

Content requirements: Fluency in English.

Assessment

Grades will be based on a mid-term exam worth 40 points and a final exam worth 60 points, for a total of 100. Exams will be based on the material covered in class.

Text

Macroeconomics: A Contemporary Approach, 10th Edition, by William McEachern

Prüfungsanmeldung:
bis Ende 1. Halbsemester:
bis Ende 2. Halbsemester:	X
individuelle Anmeldung bis:	_________ (Datum)

Bewertung

Siehe Modulbeschreibung.