LSC Macroeconomics (Online Course Blackboard)

Topic 1 Basics of Macroeconomics

Economic Reasoning and Theory

Macroeconomic Concepts

Graphs

Topic 2 The United States Economy

Decision Makers in the United States Economy

How Households, Businesses, and Government Interact

The United States in the Global Economy

Topic 3 Basics of Supply and Demand

Supply and Demand

Demand

Supply

Equilibrium

Circular Flow

Topic 4 Measuring Economic Outcomes

Gross Domestic and Gross National Product

The Expenditures Approach

The Income Approach

National Income Accounting and Other Measures

Topic 5 The Business Cycle

The Phases of the Business Cycle

Short-Run Instability, Long-Run Adjustments

The Relationship of Growth, Unemployment, and Inflation

Topic 6 Economic Growth

Sources of Growth

Measuring Growth

Policy Relationships That Impact Growth

Economic Relationships That Impact Growth

Classical and New Growth Theory

Topic 7 Unemployment and Employment

Types of Unemployment

Measuring Unemployment

Full Employment

Costs of Unemployment

Topic 8 Inflation

Types of Inflation

Measuring Inflation

Inflation's Relation to Unemployment

Topic 9 Aggregate Expenditures

Equilibrium Gross Domestic Product

The Multiplier Model

Factors Influencing Equilibrium Gross Domestic Product

Topic 10 Aggregate Demand and Supply

Aggregate Demand and Aggregate Supply Framework

Components of Aggregate Demand

Components of Aggregate Supply

Topic 11 Fiscal Policy

Fiscal Policy

Major Federal Government Spending Programs and Tax Sources

Government Spending, Taxation, and Fiscal Policy

Supply-Side and Demand-Side Fiscal Policy

Topic 12 Money and the Banking System

Money: Its Creation and Supply

How the Banking System Functions

Financial Institutions

Topic 13 Monetary Policy and the Economy

The Role of Monetary Policy

The Federal Reserve: Its Structure and Function

Tools for Controlling the Money Supply

The Money Market

Topic 14 Deficits, Surplus, and Debt

Types of Deficits

Surpluses and Debt

Social Security

History of the U.S. Deficit

Topic 15 Review

This course looks at the big picture of the performance of the national economy and its links to the global economy. It begins with foundational concepts related to macroeconomic basics, the United States economy, and supply and demand. Students explore economic measures, growth, employment and inflation, and how these relate to the business cycle and the health of the economy. Other topics include aggregate expenditures, aggregate supply and demand, fiscal policy, the banking system, deficits, surplus, and debt.

After completing this course, students will be able to:- Define and discuss basic macroeconomic concepts.

- Explain the importance of the various decision makers in the U.S. economy.

- Demonstrate how supply, demand, and equilibrium function within the circular flow of the economy.

- Distinguish between various measures of economic outcomes.

- Outline short-run and long-run instability and their influence on the business cycle.

- Explore measures of economic growth, unemployment, and inflation, and how fiscal policy and national debt influence these measures.

- Define concepts and models related to aggregate expenditures and aggregate supply and demand and represent these relationships graphically.

- Identify the banking system and money’s supply and creation, and the influence of monetary policy.