This course will provide the student with a framework for the analysis of models of income determination. The components of national income will be examined in the context of these models. Theory relating to the role of money and the potential role of government in the maintenance of both internal and external balance will be presented.
- Introduction to macroeconomics.
- Measuring macroeconomic variables.
- Aggregate expenditure model of income determination.
- Aggregate demand-aggregate supply model of income determination.
- Business cycles and fluctuations in national income.
- Fiscal policy.
- The money supply, the banking system, the Bank of Canada and monetary policy.
- Trade theory, including comparative advantage, and protectionism.
- Balance of payments and macroeconomic policy.
- Foreign exchange rates.
Methods of Instruction
Lecture and Seminar.
Means of Assessment
|| 30% - 40%
|| 30% - 70%
|| 0% - 30%
|Participation and/or Quizzes
|| 0% - 10%
THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.
At the end of the course, the successful student should be able to:
- construct a model for national income determination and analyze the effects of a change in one of the variables, as in multiplier analysis;
- analyze the effects of inflation and deflation, and develop policy alternatives.
- apply the economic concepts of supply and demand to explain the determination of foreign exchange and interest rates;
- analyze the effectiveness of monetary and fiscal policies under fixed and flexible exchange rate regimes;
- analyze the policy options available to central authorities to maintain both internal and external balance in an open economy.
BC Principles of Math 11 OR currently active in the
PDD Accounting or
PDD Accounting Studies or
PDD Global Banking and Economics or
ECON 1101 recommended.
Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester/year of the course, consider the previous version as the applicable version.
Below shows how this course and its credits transfer within the BC transfer system.
A course is considered university-transferable (UT) if it transfers to at least one of the five research universities in British Columbia: University of British Columbia; University of British Columbia-Okanagan; Simon Fraser University; University of Victoria; and the University of Northern British Columbia.
For more information on transfer visit the BC Transfer Guide and BCCAT websites.
If your course prerequisites indicate that you need an assessment, please see our Assessment page for more information.