Spring 2019 Course Syllabi

3 | P a g e  Differentiate between demand-pull and cost-push inflation.  Construct graphs detailing basic macroeconomic relationships.  Construct graphs representing equilibrium in the aggregate product market.  List and describe the three functions of money.  Evaluate the functions of Federal Reserve.  Describe the fractional reserve banking process, including how money is created.  Describe the Fed’s basic tools of monetary policy.  Evaluate different economic schools of thought with regard to monetary policy.  Describe the process of an international trade, noting the gains from specialization.  List common trade barriers. CONCEPTS & ISSUES  Marginal Analysis  Opportunity Cost  Individual’s Economizing Problem  Society’s Economizing Problem  Economic systems  Bartering  Circular Flow  Market Equilibrium  Market Failure  Gross Domestic Product  Economic Growth  Businesses Cycles  Unemployment  Inflation  Saving/Consumption/Income  Investment  Multiplier  Public Debt  Aggregate Demand  Aggregate Supply  Money  Federal Reserve  Fractional Reserve Banking  Monetary Multiplier  Money Demand  Monetary Policy  Comparative Advantage  International Trade  Trade Barriers