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.

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

Course Objectives

Course: Principles of Macroeconomics

Students who complete this course will be able to understand:

  • the meaning of unemployment and inflation data and how that data is collected and computed;
  • the meaning and components of the National Income Accounts, especially GDP;
  • the meaning of the business cycle and its phases;
  • and to manipulate the basic Aggregate Supply, Aggregate Demand model of the macro economy;
  • how fiscal policy operates, its tools, and its advantages and drawbacks;
  • how a fractional reserve banking system works;
  • how monetary policy operates, its tools, and its advantages and drawbacks.

 

Course: Principles of Microeconomics

Students who complete this course will be able to understand:

  • the basic concepts of scarcity and opportunity cost;
  • the forces of demand and supply and how they interact to determine an equilibrium price;
  • how and why equilibrium prices might change and their impact on resource allocation;
  • the theory of consumer behavior;
  • the theory of the firm;
  • the theoretical market structures of perfect competition and monopoly.

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.