This course is a continuation of ECO 401 and is designed to provide students further understanding of market process economics. Students will learn about the concept of productive activity, the productive role of businessmen and capitalists, money and spending, productionism and unemployment, the productivity theory of wages, alternative approaches to aggregate economic accounting, the role of saving in spending, Keynesian economics, and inflation.
- Explain the productive role of businessmen and capitalists.
- Discriminate between economically consumptive and productive activities.
- Evaluate the role of money in an economy.
- Explain the causes and consequences of unemployment.
- Determine what increases and decreases the productivity of labor.
- Distinguish between different methods of aggregate economic accounting.
- Evaluate the basic components of Keynesian economics.
- Demonstrate knowledge of the causes and effects of inflation.
- Demonstrate the ability to use online resources to research and prepare written and oral assignments.
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