ECON 1951: Principles of Macroeconomics
Students examine economic behaviour at the aggregate level, and the measurement and determination of national income. Topics include an introduction to economics; measuring macroeconomic variables including gross domestic product, unemployment, and inflation; the Keynesian model; aggregate demand and supply; money and banking; the money market; fiscal policy; monetary policy and the central bank; exchange rates and the balance of payments; and economic growth.
Learning outcomes
- Discuss macroeconomic problems.
- Define, describe, and compute national income.
- Explain current and past economic events, particularly in periods of high unemployment and inflation, using macroeconomic theories.
- Explain the multiplier concept and its importance.
- Describe the role of the monetary sector in affecting the real sector of the economy.
- Compare and contrast how monetary and fiscal policies affect the economy.
Course topics
- Module 1: National Income Accounting and the Business Cycle
- Module 2: Aggregate Expenditure, Aggregate Demand, and Fiscal Policy
- Module 3: Money, Banking, and Financial Markets
- Module 4: Monetary Policy and the AS/AD Model
- Module 5: Exchange Rates
- Module 6: Economic Growth
Required text and materials
The following Open Education Resources (OER) textbook, free of charge, is required and will be provided within this course.
- Curtis, D., & Irvine, I. (2017). Principles of Macroeconomics (Revision B). (CC BY-NC-SA).
Assessments
Please be aware that should your course have a final exam, you are responsible for the fee to the online proctoring service, ProctorU, or to the in-person approved Testing Centre. Please contact exams@tru.ca with any questions about this.
To successfully complete this course, students must achieve a passing grade of 50% or higher on the overall course, and 50% or higher on the final mandatory exam.
| Journal Entry 1: Module 1 | 4% |
| Quiz 1: Modules 1 & 2 | 8% |
| Assignment 1: Modules 1–3 | 10% |
| Discussion 1: Modules 1–3 | 8% |
| Quiz 2: Modules 3 & 4 | 8% |
| Assignment 2: Modules 4 & 5 | 10% |
| Journal Entry 2: Module 5 | 4% |
| Discussion 2: Modules 4–6 | 8% |
| Mandatory Final Exam | 40% |
| Total | 100% |
Open Learning Faculty Member Information
An Open Learning Faculty Member is available to assist students. Students will receive the necessary contact information at the start of the course.
