ECO 151 - Principles of Macroeconomics - Clark - 2022

Use this course guide to help successfully complete the course term project.

The guide also offers resources to generate curiosity and deepen understanding of course topics and to help students improve their information literacy and research skills.

Information literacy forms the basis for lifelong learning. It is common to all disciplines, to all learning environments, and to all levels of education. Being information literate enables learners to master content and extend their investigations, become more self-directed, and assume greater control over their own learning.  Information literacy is “…the set of integrated abilities encompassing the reflective discovery of information, the understanding of how information is produced and valued, and the use of information in creating new knowledge and participating ethically in communities of learning.” Source: ACRL Framework of Information Literacy.

Access the complete open text, Boundless Economics.

Definition: Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation.

Description: Macroeconomics analyzes all aggregate indicators and the microeconomic factors that influence the economy. Government and corporations use macroeconomic models to help in formulating of economic policies and strategies.

Macroeconomics is not that different from microeconomics, in that the interaction of supply and demand provides the basic organizing framework for analyzing the workings of a national economy. The equilibrium levels of national income and prices are determined at the intersection of aggregate supply and aggregate demand curves, just as the equilibrium quantity of transaction and price of an individual commodity is determined at the intersection of supply and demand curves.