Campus Location:Georgetown,Dover, Stanton, Wilmington
EffectiveDate: 2018-51
CourseNumberandTitle:ECO 111Macroeconomics
Prerequisite:ENG 090 or higher, MAT 010, SSC 100 or concurrent
CourseCredits andHours:3 credits
3lecturehours/week
0lab hours/week
CourseDescription:This courseinstructs students in the basic principles of supplyand demand as theyimpact theAmerican economy. Itplaces special emphasis on thosenational policydecisions used to solve the problems of inflation andunemployment, suchasKeynesian, monetarist, and supply-sidepolicyapproaches.
RequiredText(s):Obtain current text bookinformation at orvisitthe bookstore. You will need to know the coursenumber and section.
Additional Materials:None
MethodofInstruction:Classroom, Hybrid, Online
Disclaimer:None
CoreCoursePerformanceObjectives:
1.Differentiate macroeconomics from microeconomics. (CCC 1, 2)
2.Analyzesocial-scientificprinciples of economics.(CCC1, 2)
3.Explain scarcityand thecopingstrategies societies use in allocating resources and makingeconomicdecisions. (CCC 1, 2)
4.Evaluatethe roles of diminishingreturns and increasingopportunitycostsin delimiting the production possibilities of scarceresources. (CCC 1, 2)
5.Compare and contrast theprinciples of market-based economyanda command system economy. (CCC 1, 2)
6.Describethelaws of supplyand demand, and interpret how the market forces of supply and demand interact to producethe pricingmechanism. (CCC 1, 2, 6)
7.Assess thebusiness cycleand the historyof effortstocategorize fluctuations. (CCC 1, 2)
8.Evaluatekeymacroeconomic challenges suchasunemployment, inflation,and growth, and explain how fiscal and monetarypolicies areused to address these challenges. (CCC
1, 2, 6)
9.Investigate the chief componentsofthe monetarysystem and the principalstrategies and tools of monetarypolicy.(CCC 1, 2, 6)
10.Categorizethe principal factors contributingto thefederal budget deficits or surpluses and to the federal debt. (CCC 1, 2, 6)
11.Analyzetherelationshipbetweenglobal trade andother contemporaryglobal economic issues andtheirimpact on theUnited States’ economy. (CCC 1, 2)
SeeCore Curriculum Competencies(CCC)and Program Graduate Competencies(PGC)at the end of thesyllabus. Course objectives arecoded to the competency(cies)theydevelop.
MeasurablePerformanceObjectives:
Upon completion ofthis course, the student will:
1.Differentiate macroeconomics from microeconomics.
1.1Definethe studyofeconomics.
1.2Compare and contrast macroeconomics andmicroeconomics.
2.Analyzesocial-scientificprinciples of economics.
2.1Identifythe major assumptions that economistsmake about humaneconomic behavior.
2.2Analyzethe major obstacles in economics relativeto themajorsocial-scientific principles.
3.Explain scarcityand thecopingstrategies societies use in allocating resources and makingeconomicdecisions.
3.1Analyzetheeconomicproblem ofscarcitywhile interpretingthe various methods usedto copewith scarcity.
3.2Explain how scarcity affects keyeconomic concepts and decisions.
4.Evaluatethe roles of diminishingreturns and increasingopportunitycostsin delimiting the production possibilities of scarceresources.
4.1Describediminishing returns and increasingopportunitycosts.
4.2Examinethe impact of diminishingreturns and increasingopportunitycostson production possibilities of scarceresources.
5.Compare and contrast theprinciples of market-based economyanda command system economy.
5.1Illustrate major categories ofresources.
5.2Describethe economicprocesses of production, distribution, and consumption.
5.3Explain how production ofgoodsand services influences standard ofliving.
5.4Differentiate market systems, command systems,traditional, and mixed economies.
5.5Analyzemarket failureand the effect ofgovernment intervention.
6.Describethelaws of supplyand demand, and interpret how the market forces of supply and demand interact to producethe pricingmechanism.
6.1Interpret thelaws ofdemandand supply.
6.2Describehow both asupplyschedule and asupplycurveareusedto show demand.
6.3Evaluatethe causes ofshifts in the supplyand demand curveforaproduct.
6.4Explorehow and whyequilibrium occurs betweendemand and supplyin markets.
7.Assess thebusiness cycleand the historyof effortsto categorize fluctuations.
7.1Describethelaissez-faireor classical view of macroeconomics.
7.2Examinethe historyof efforts to explain the business cycle.
8.Evaluatekeymacroeconomicchallenges suchasunemployment, inflation,and growth, and explain how fiscal and monetarypolicies areused to address these challenges.
8.1Differentiate potentialgross domesticproduct (GDP)from realgross domestic product (GDP).
8.2Describehow inflation is measured usingtheconsumerpriceindex(CPI).
8.3Analyzehow unemployment is officiallymeasured in theUnited States.
8.4Classifythe major typesofunemployment.
8.5Interpret theconcepts offiscal and monetarypolicy.
9.Investigate the chief components of the monetarysystem and the principlestrategies and tools of monetarypolicy.
9.1Describethemajor functions and characteristics ofmoney.
9.2Differentiate currencyfrom checkingdeposits.
9.3Defineliquidity, and describehow itdistinguishes various components ofthe moneysupply.
9.4Describethedifferent types of financial intermediaries.
9.5Investigate therelationship between money, realGDP, and the pricelevel.
9.6Categorizethe structureofthe Federal ReserveSystem, andexplain how interest rates aredetermined in themoneymarket.
10.Categorizethe principle factors contributingto thefederal budget deficits or surpluses and to the federal debt.
10.1Discuss the relationship between fiscal policyandthe existenceof budgetdeficits and budget surpluses.
10.2Evaluatethe recent historyoffederal budget surpluses versus deficits in the
United States.
11.Analyzetherelationshipbetweenglobal trade andother contemporaryglobal economic issues andtheirimpact on the United States’ economy.
11.1Assess theimportanceofinternational tradeto theUnited States’ economy.
11.2Differentiate imports from exports, and explain how theyrelateto thebalanceof trade.
EvaluationCriteria/Policies:
Students must demonstrate proficiency on all CCPOs at a minimal 75 percent level to successfully complete the course. The grade will be determined using the DTCC grading system:
92 – 100 / = / A83 – 91 / = / B
75 – 82 / = / C
0 – 74 / = / F
Students should refer to the Student Handbook ( for information on the Academic Standing Policy, the Academic Integrity Policy, Student Rights and Responsibilities, and other policies relevant to their academic progress.
Core Curriculum Competencies (CCCs are the competencies every graduate will develop):
- Apply clear and effective communication skills.
- Use critical thinking to solve problems.
- Collaborate to achieve a common goal.
- Demonstrate professional and ethical conduct.
- Use information literacy for effective vocational and/or academic research.
- Apply quantitative reasoning and/or scientific inquiry to solve practical problems.
Disabilities Support Statement
The College is committed to providing reasonable accommodations for students with disabilities. You are encouraged to schedule an appointment with your campus Disabilities Support Counselor if you feel that you may need an accommodation based on the impact of a disability. A listing of campus Disabilities Support Counselors and contact information can be found at go.dtcc.edu/DisabilityServices or visit the campus Advising Center.