Students examine economic behavour at the aggregate level, and the measurement and determination of national income. Topics include an introduction to economics; measuring macroeconomic variables including gross domestic product, unemployment, and inflation; the Keynesian model; aggregate demand and supply; money and banking; the money market; fiscal policy; monetary policy and the central bank; exchange rates and the balance of payments; and economic growth. Prerequisite: Foundations of Mathematics 11 or Pre-calculus Math 11 with a minimum B or MATH 0510 or MATH 0530 or equivalent. Completion of one Foundations of Mathematics 12, or Pre-calculus 12 is highly recommended. Note: Students will only receive credit for one of ECON 1950 and ECON 1951.
Students examine economic behavour at the aggregate level, and the measurement and determination of national income. Topics include an introduction to economics; measuring macroeconomic variables including gross domestic product, unemployment, and inflation; the Keynesian model; aggregate demand and supply; money and banking; the money market; fiscal policy; monetary policy and the central bank; exchange rates and the balance of payments; and economic growth. Prerequisite: Foundations of Mathematics 11 or Pre-calculus Math 11 with a minimum B or MATH 0510 or MATH 0530 or equivalent. Completion of one Foundations of Mathematics 12, or Pre-calculus 12 is highly recommended. Note: Students will only receive credit for one of ECON 1950 and ECON 1951.
