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ECO 201: Principles of Macroeconomics

Ed4Credit presents ECO 201: Principles of Macroeconomics

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ECO 201: Principles of Macroeconomics

₹12,993.00

ECO 201: Principles of Macroeconomics

₹12,993.00

Course Features

Learn on Your Own
 135 Hours
Certification Course

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₹12,993.00

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Course Features

Learn on Your Own
 135 Hours
Certification Course

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We respect your privacy. Your information is safe and will never be shared.

Course Description

This course introduces students to the study of Macroeconomics by focusing on how we make choices in a world of scarce resources.  We start by learning about the first analytical model in economics: supply, demand, and equilibrium.  Next, we move on to discuss elasticity and price, two key concepts in economics. The Macroeconomic perspective is then applied to economic growth, unemployment and inflation, and international trade and capital flows. The discussion then shifts to the principal Macroeconomic model, Aggregate Demand/Aggregate Supply, and how it is applied to the Keynesian and Neoclassical perspectives.  We conclude by learning about monetary policy, fiscal policy, the role of government, and international economics.

 

Materials

There is no extra cost for textbooks or materials. All materials are included with this course.

 

Transferability

Ed4Credit’s courses have all either been recommended for credit through the American Council on Education’s Alternative Credit Project™ or their College Credit Recommendation Service (CREDIT®). This highly regarded recommendation means that your Ed4Credit classes will be considered for credit at almost 2,000 colleges and universities across the United States.

It’s important that you check with the college you are planning to transfer this course to in order to verify the transferability to your college. Also, every college individually determines if a course will count as a lower-level course or an upper-level course. Please contact your college and make sure you understand their policies regarding ACE credit transfers.

Ed4Credit courses go through an intensive quality review process by ACE CREDIT® prior to being available to students. ACE CREDIT has evaluated and recommended this Ed4Credit course for college credit. Once you have completed an Ed4Credit course, you are eligible to receive an ACE Transcript for credit transfer purposes. Upon completion of your Ed4Credit courses simply create an account with the American Council on Education (ACE). Once you’ve created your account select the courses you’ve completed and choose the appropriate educational institution and ACE will send them your transcript.

The ACE CREDIT® logo is a registered trademark of the American Council on Education and cannot be used or reproduced without the express written consent of the American Council on Education. Used with permission.

 

More Information

Ed4Online has partnered with ProctorU!

ProctorU is a live online proctoring service that allows exam takers to complete their certification exams at home. This partnership allows us to maintain the professionalism and integrity that we desire within the exam taking process. You can take your proctored exam online from anywhere using a webcam and a high speed internet connection. Here are some things to keep in mind as you prepare to take your exam…

  • You will need to create a FREE PROCTORU ACCOUNT and schedule an exam
  • Exams need to be scheduled 3 days in advance!
  • You will need a webcam, speakers and a microphone for the exam.

  • Identify how supply, demand, and equilibrium models help us better understand both labor and finance markets.
  • Differentiate between elasticity, price, Macroeconomic perspectives, and Macroeconomic goals.
  • Recognize the Aggregate Demand-Aggregate Supply analytic model and how it is applied to differing economic perspectives.
  • Recall how monetary and fiscal policy are used to explain money, the banking system, financial regulations, and government spending.
  • Define international economics, trade, trade barriers, and protectionism.
Access Timeframe
You will have access to your course for 4 months (120 days) from the time of purchase.
Type of Certification
Certificate of Completion
Format of Certification
Digital
Professional Association/Affiliation
Ed4Credit courses are recommended by ACE (American Council on Education) and approx. 2,000 colleges and universities accept ACE CREDIT's® recommended courses.
Method of Obtaining Certification
Credits are displayed on the Certificate of Completion which can be downloaded upon successful completion of a course. Official transcripts must be requested from ACE via a ACE Account.
Additional Details
Students are awarded course credits upon successful completion of a course.

Course Outline

Module Subtopics:

  • Economics Defined
  • Importance of Studying Economics
  • Microeconomics versus Macroeconomics
  • Using Theories and Models to Understand Economics
  • Overview of Economic Systems
  • Individual Choices and Budget Constraints
  • Production Possibilities Frontier
  • Social Choices
  • Objections to the Economic Approach
Module Learning Objectives:
  • Recognize the importance of studying economics
  • Identify the theories used to understand economics
  • Define economics, microeconomics, and macroeconomics
  • List some economic systems
  • Name the link between choices and constraints
  • Recall the production possibilities frontier
  • Pick some objections to the economic approach
Assignments:
  1. Read Chapter 1-2
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 1

Module Subtopics:

  • Market Demand, Supply, and Equilibrium
  • Shifts in Demand and Supply for Goods and Services
  • Four-Step Process for Equilibrium Changes
  • Price Ceilings
  • Price Floors
  • Demand, Supply, and Efficiency
  • Labor Market Demand and Supply
  • Financial Market Demand and Supply
  • Market System as an Efficient Mechanism for Information
Module Learning Objectives:
  • Recognize demand, supply and equilibrium
  • Identify the shifts in demand and supply for goods and services
  • Define the four-step equilibrium change process
  • List factors that contribute to labor market demand and supply
  • Name factors that contribute to financial market demand and supply
  • Recall why the market system is an efficient mechanism for finding information
  • Differentiate between price ceilings, price floors, demand, supply, and efficiency
Assignments:
  1. Read Chapter 3-4
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 1

Module Subtopics:

  • Price Elasticity of Demand
  • Price Elasticity of Supply
  • Polar Cases of Elasticity
  • Constant Elasticity
  • Elasticity and Pricing
  • Elasticity in Other Areas
  • Gross Domestic Product
  • Adjusting Nominal Values to Real Values
  • Tracking Real GDP over Time
  • Comparing GDP among Countries
  • How GDP Measures the Well-Being of Society
Module Learning Objectives:
  • Recognize the price elasticity of demand and supply
  • Identify the polar cases of elasticity, constant elasticity, and the elasticity of pricing
  • Define gross domestic product
  • Name how GDP is calculated, adjusted, tracked, and used for comparison
  • Recall how GDP relates to the well-being of society
Assignments:
  1. Read Chapter 5-6
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 2

Module Subtopics:

  • Recent Arrival of Economic Growth
  • Labor Productivity and Economic Growth
  • Components of Economic Growth
  • Economic Convergence
  • Defining Unemployment
  • Measuring Unemployment
  • Patterns of Unemployment
  • Causes of Short-Term Unemployment Changes
  • Causes of Long-Term Unemployment Changes
Module Learning Objectives:
  • Recognize the relationship between economic growth and labor productivity
  • Identify the components of economic growth
  • Define economic convergence and unemployment
  • Name how unemployment is measured and assessed, as well as the causes for longand short-term change
Assignments:
  1. Read Chapter 7-8
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 2

Module Subtopics:

  • Tracking Inflation
  • Measuring Cost of Living Changes
  • How Countries Experience Inflation
  • Confusion Over Inflation
  • Indexing and Its Limitations
  • Measuring Trade Balances
  • Historical Context of Trade Balances
  • International Context of Trade Balances
  • Trade Balances and Flows of Financial Capital
  • National Saving and Investment Identity
  • Pros and Cons of Trade Deficit and Surplus
  • Level of Trade versus Trade Balance
Module Learning Objectives:
  • Recognize how inflation is tracked and cost of living is measured
  • Identify how different countries experience inflation and why it creates confusion
  • Define how trade balances are measured and understood, historically and internationally
  • List how trade balance impacts financial capital
  • Name how a nation can have a savings or investment identity
  • Recall the pros and cons of deficits and surpluses
  • Differentiate between the level of trade and trade balance
Assignments:
  1. Read Chapter 9-10
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 2

Module Subtopics:

  • Macroeconomic DemandSupply Perspectives
  • Building an Aggregate Demand-Supply Model
  • Aggregate Supply Shifts
  • Aggregate Demand Shifts
  • Incorporating Growth, Unemployment, and Inflation into the Model
  • Keynes’ Law and the Aggregate Demand-Supply Model
  • Say’s Law and the Aggregate Demand-Supply Model
  • Aggregate Demand in Keynesian Analysis
  • The Building Blocks of Keynesian Analysis
  • The Phillips Curve
  • The Keynesian Perspective on Market Forces
Module Learning Objectives:
  • Recognize the demand-supply perspective, and how a model is built
  • Identify aggregate supplydemand shifts
  • Define how growth, unemployment, and inflation is built into economic models
  • List how Keynes’ and Say’s laws apply to aggregate demand-supply
  • Differentiate between Keynesian analysis and the Phillips curve
Assignments:
  1. Read Chapter 11-12
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 3

Module Subtopics:

  • Neoclassical Analysis
  • Neoclassical Perspective
  • Policy Implications
  • Keynesian versus Neoclassical Models
  • Defining Money by Its Functions
  • Currency, M1, and M2 Measures of Money
  • Role of Banks
  • How Banks Create Money
  • Federal Reserve Banking System
  • Central Banks and Monetary Policy
  • Bank Regulation
  • Monetary Policy and Economic Outcomes
  • Monetary Policy Pitfalls
Module Learning Objectives:
  • Recognize neoclassical analysis, perspectives, and policy implications
  • Differentiate between Keynesian and Neoclassical models
  • Define money by its functions, currency, M1, and M2 measures of money
  • List how banks create money and their role in economics
  • Identify the federal reserve and central banking systems
  • Name how bank regulations impact Macroeconomics
  • Recall the benefits and pitfalls of monetary policy
Assignments:
  1. Read Chapter 13-15
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 3, 4

Module Subtopics:

  • Foreign Exchange Markets
  • Foreign Exchange Markets Demand-Supply Shifts
  • Macroeconomic Effects of Exchange Rates
  • Exchange Rate Policies
  • Government Spending
  • Taxation
  • Federal Deficits
  • National Debt
  • Fighting Recession, Unemployment, and Inflation with Fiscal Policy
  • Automatic Stabilizers
  • Discretionary Fiscal Policy Problems
  • Do We Need a Balanced Budget?
Module Learning Objectives:
  • Recognize how foreign exchange markets impact demand-supply shifts
  • Identify how macroeconomics and national policies impact exchange rates
  • Define government spending, taxation, deficits, and debt
  • List how fiscal policy can impact recession, unemployment, and inflation
  • Name some automatic economic stabilizers
  • Recall fiscal policy problems and the question on why a balanced budget is or is not needed
Assignments:
  1. Read Chapter 16-17
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 4

Module Subtopics:

  • Impact of Government Borrowing on Investment and Trade
  • Fiscal Policy, Investment, and Growth
  • Government Borrowing Impact on Private Saving
  • Fiscal Policy and Trade Balance
  • Worldwide Economic Diversity
  • Improving Worldwide Standards of Living
  • Causes of Worldwide Unemployment
  • Causes of Worldwide Inflation
  • Balance of Trade Concerns
Module Learning Objectives:
  • Recognize the impact of government borrowing on investment, trade, and private savings
  • Identify fiscal policy and trade balance
  • Define fiscal policy, investment, growth, and economic diversity
  • List how economics is diverse worldwide, and how it improves standards of living
  • Name some causes of worldwide unemployment and inflation
  • Recall several balance of trade concerns
Assignments:
  1. Read Chapter 18-19
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 4, 5

Module Subtopics:

  • Absolute Advantage
  • Comparative Advantage
  • Intra-industry Trade between Similar Economies
  • Benefits of Reducing International Trade Barriers
  • Protectionism
  • Effects of International Trade on Jobs, Wages, and Working Conditions
  • Arguments for Restricting Imports
  • How Trade Policy Is Enacted
  • Tradeoffs of Trade Policy
Module Learning Objectives:
  • Recognize intra-industry trade between similar economies
  • Identify some benefits of reducing trade barriers
  • Define absolute advantage, comparative advantage, and protectionism
  • List the effects of international trade on jobs, wages, and working conditions
  • Name the arguments for restricting imports
  • Recall how trade policy is enacted, and identify its tradeoffs
Assignments:
  1. Read Chapter 20-21
  2. Practice the Learning Activities
  3. Watch the Videos
  4. Review the Webliography (Web Links)
  5. Take the Exam
Learning Outcomes:
  • 5

Module Subtopics:

  • Final Exam
  • Course Survey
  • Certificate of Completion
Module Learning Objectives:
  • N/A
Assignments:
  1. Take the Cumulative Practice Exam – Optional
  2. Review the Proctored Exam Information
  3. Create an Account with Proctor U
  4. Schedule an Exam Time Take the Proctored Final Exam
  5. Take the Cumulative Final Exam
  6. Submit the Course Survey
  7. Print Your Certificate of Completion
Learning Outcomes:
  • 1, 2, 3, 4, 5

Technical Requirements

Internet Connection

  • Broadband or High-Speed - DSL, Cable, and Wireless Connections

*Dial-Up internet connections will result in a diminished online experience. Classroom pages may load slowly and viewing large audio and video files may not be possible.

 

Hardware Requirements

  • Processor - 2GHz Processor or Higher
  • Memory - 1 GB RAM Minimum Recommended

 

PC Software Requirements

  • Operating Systems - Windows 7 or higher
  • Microsoft Office 2007 or higher. Also, you could use a general Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
  • Internet Browsers - Google Chrome is highly recommended
    • Cookies MUST be enabled
    • Pop-ups MUST be allowed (Pop-up Blocker disabled)
  • Kindle Reader App is needed for many of our courses (No special equipment needed. This can be downloaded for FREE onto your computer.)
  • PowerPoint Viewer (if you do not have PowerPoint)
  • Adobe PDF Reader
  • QuickTime, Windows Media Player &/or Real Player

 

MAC Software Requirements

  • Operating Systems - Mac OS x 10 or higher with Windows
  • Mac office programs or a Word Processing application to save and open Microsoft Office formats (.doc, .docx, .xls, .xlsx, .ppt, .pptx)
  • Internet Browsers- Google Chrome is highly recommended
    • Cookies MUST be enabled
    • Pop-ups MUST be allowed (Pop-up Blocker disabled)
  • PowerPoint Viewer (if you do not have PowerPoint)
  • Adobe PDF Reader
  • Apple QuickTime Media Player

Course Features

Learn on Your Own
 135 Hours
Certification Course

Don't have time?

We can send you everything you need to know about this course through email.

We respect your privacy. Your information is safe and will never be shared.