Gain insight into how economic activity levels and pricing are determined.
Duration: 8 weeks
In ECON 5101 Economics, you will analyze historic economic events that have had a major impact on our nation and the world at large. As you learn to interpret current economic data, you will focus on theory and government policies to understand how fiscal policy, global trade and monetary policies affect and are affected by business and consumer behavior. You will understand the roles played by Gross Domestic Product (GDP) — the measure of national income — and unemployment figures — the measure of the labor force at work — in assessing the health of the economy.
You will gain a better understanding of how fiscal policy can achieve government goals such as price stability, full employment and economic growth. You will also consider how the Federal Reserve affects money supply and interest rates.
What You Will Learn in ECON 5101
The increase of overall goods and services pricing, or inflation, must be managed to minimize its effect on the economy as whole. You will discover how the economy can be damaged by just the expectations of inflation. The GDP expands and contracts on an ongoing basis and is measured as a business cycle over a specific period of time. You will examine historical business cycles to understand how the economy and governments react, as well as how these cycles can lead to recessions. You will analyze two economic growth theories. The Keynesian theory is in favor of government intervention, while Classical economics is in favor of no government intervention and market self-correction.
In this course, you will research and write expository essays on economic methodology, history, history of thought, and values. You will also do quantitative macroeconomic measurement and policy exercises.
In this course will evaluate the relationship between economic methodology, history, history of economic thought and values. You will study the “demand and cost” model and how it differs from the “supply and demand” model. You will learn how employment, inflation and production are measured for the economy, and study economic models and fiscal and monetary policy and how these impact growth and stabilization. Finally you will learn about the thinking underlying the “free trade” doctrine and how international trade and financial accounts are measured and used.
Throughout this course, weekly topics may include but are not limited to:
- Economic Methodologies and Economics Systems
- History of Economic Thought, Modern Economic History, and Economics and Values
- Demand and Cost and Supply and Demand
- Measuring Employment, Inflation , and Production
- Classical and Keynesian Macroeconomics and Fiscal Policy
- Money and Monetary Policy
- Growth and Stabilization
- International Trade and Finance
Course Learning Outcomes
Upon successful completion of ECON 5101s, you will be able to:
- Analyze the important economic issues and problems facing the nation today.
- Critically analyze the various economic theories that explain how the macro-economy works.
- Utilize analytical tools and policies needed to confront the vital national economic issues and problems.
- Think critically and become more adept at using logical reasoning.
Request More Information Today
To learn more about the online Master of Business Administration curriculum from Benedictine University, including Economics, call (866) 295-3104 to speak with a program manager or request more information.
Course content and outcomes may vary and are subject to change without notice.