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;
- critically evaluate the usage of policy in microeconomic markets
- 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.