Courses

Course Descriptions

The ACC Economics department offers two courses: Principles of Macroeconomics and Principles of Microeconomics.

Read the course descriptions for the general courses offered by the ACC Economics Department.

Course Objectives

Course: Principles of Macroeconomics

Students who complete this course will be able to:

  • critically evaluate GDP, unemployment, and inflation data;
  • explain the business cycle and its phases;
  • manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;
  • explain fiscal policy tools and defend and criticize the usage fiscal policy;
  • describe how a fractional reserve banking system works;
  • explain monetary policy tools and defend and criticize the usage monetary policy.

Course: Principles of Microeconomics

Students who complete this course will be able to:

  • apply the basic concepts of scarcity and opportunity cost;
  • manipulate the basic demand and supply model to determine an equilibrium price and quantity;
  • changes to equilibrium price and quantity, and their impact on resource allocation;
  • explain the theory of consumer behavior;
  • explain the theory of the firm;
  • model and explain the theoretical market structures of perfect competition and imperfect competition.

Economics Program Student Learning Outcomes:

  • Model and explain under what circumstances markets are capable of creating socially optimal and socially suboptimal outcomes;
  • Defend and criticize the role of economic policy in a mixed market economy.
  • and Critically evaluate economic data.