vcc.ca
ECON 1200: Macroeconomics
Effective date
September 2021
Department
UT Humanities
School
Arts and Sciences
Description
Macroeconomics is a branch of economics that aims to explain the functioning of the national economy as a whole. Macroeconomics looks at the behavior of a nation's economic aggregates, whereas microeconomics studies decisions made by individual consumers and business firms. The objectives of this course are to introduce the student to the basic principles of macroeconomic analysis, to illustrate how macroeconomics can be used to help understand the world around us, especially issues presented in the media. Topics include: national income analysis and determination, inflation, unemployment, fiscal and monetary policy, money and banking, national debt, and international trade. Emphasis on the everyday applications of macroeconomics makes this more than just a pure theory course. Microeconomics and Macroeconomics can be taken concurrently or in any order.
Credits
3.0
Year of study
1st Year Post-secondary
Prerequisites
Pre-calculus 11; or Math 0861 and Math 0871; or 72% on the VCC Intermediate Algebra Assessment
Test.
Test.
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Analyze the tools used by economists.
- Apply the economic principles pertinent to many real-world problems and issues regarding public policy.
- Apply abstract theories to events and actual situations.
- Identify the relationship between unemployment and inflation data and how those data are collected and computed.
- Describe the construction of the aggregate expenditures model in an open economy with government.
- Identify the structure and operation of the banking system.
- Explain how monetary and fiscal policies play out in the Canadian economy.
- Analyze the relationship between the Canadian economy and the global economy.
Prior Learning Assessment & Recognition (PLAR)
None
Hours
Lecture, Online, Seminar, Tutorial: 60
Total Hours: 60
Total Hours: 60
Instructional Strategies
Group assignments & projects
Tutorials
In-class discussions, experiments, and problems
Tutorials
In-class discussions, experiments, and problems
Grading System
Letter Grade (A-F)
Passing grade
D
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Assignments |
15 |
Assignments |
|
Participation |
10 |
Participation |
|
Midterm Exam |
40 |
2 x 20% |
|
Final Exam |
35 |
Final Exam |
Course topics
- Introduction to Economics
- Review of Microeconomics
- Measuring Economic Activity
- Output Gap
- Business Cycles
- Unemployment
- Price Level and Inflation
- Aggregate Expenditure Model
- Aggregate Demand and Aggregate Supply Multiplier
- Fiscal Policy
- Money and Banking
- Monetary Policy Balance of Trade
- Exchange Rate and the Open Economy
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/. - To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.