ECON 1951: Principles of Macroeconomics
Students examine how the economy behaves at the aggregate level and how national income is measured and determined. Topics include an overview of macroeconomics; measuring gross domestic product, inflation and unemployment; demand including the multiplier process; supply, business cycles, long-term growth; money, banking and monetary policy; inflation; interest rates; stagflation; deficits and fiscal policy; exchange rates and balance of payments; exchange rate policy; purchasing power and interest rate parity.
Learning outcomes
- Understand the forces determining macroeconomic variables such as inflation, unemploy-ment, interest rates, and the exchange rate.
- Formulate and assess macroeconomic policy suggestions.
- Define macroeconomic terminology, such as the multiplier, monetarism, the natural level of unemployment, and fiscal policy.
- Interpret and evaluate media reports on the macroeconomy.
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 for this course:
- Curtis, D., & Irvine, I. (2017). Principles of macroeconomics (Revision B). (CC BY-NC-SA).
Students can access the book via Lyryx Learning: https://lyryx.com/wp-content/uploads/2017/08/CI-Principles-of-Macroeconomics-2017-RevisionB.pdf
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 examination.
| Assignment 1 | 10% |
| Quiz 1 | 10% |
| Assignment 2 | 10% |
| Assignment 3 | 10% |
| Assignment 4 | 10% |
| Quiz 2 | 10% |
| Final exam (mandatory) | 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.
