ECON 106 Principles of Macroeconomics covers: national income accounts, national income determination model, monetary system, monetary and fiscal policy, problems with the Macro System, inflation, unemployment, etc.; international trade - balance of payments, exchange rates, capital flows.
Prerequisites: English Studies 12 or English First Peoples 12 or ENGL 60 with a minimum grade of 60%
Accessibility Services Notice
Students who would like an academic accommodation and who have a documented disability should contact Accessibility Services, if they have not already done so.Course Details| Total number of weeks | 15 |
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| Total Credits | |
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| Total Hours | 60 |
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Typical hours per week breakdown| Lab (lab, field, computer) | 2.5 |
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| Seminar | 1.5 |
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Learning Outcomes
Upon successful completion of this course, the learner will be able to:
- Gain a critical understanding of macroeconomics
- Explain how scarcity, choice and cost are at the heart of economics
- Demonstrate how markets determine relative prices
- Learn how gross domestic product is measured
- Discuss how economic growth, inflation and unemployment are and how they are measured
- Explain how the level of economic output and the price level are determined
- Describe what money is and its role in the economy
- Demonstrate how the level of interest rates is determined and its impact on the economy
- calculate the gains and losses from international trade
- Explain how the exchange rate is determined
- Describe what monetary policy is and how it operates
Teaching and Learning Approach
The lectures in this course focus on the introduction of concepts and practice in the analysis of real-world
situations. Students are encouraged to enrich the class by asking questions and offering examples.
This course will use a number of approaches, including: in-person lectures, instructor’s lecture videos,
synchronous Zoom sessions, tests, and online quizzes and assignments. We will be using MOODLE for the
distribution of class materials and communication of important class information and grades. You are expected to
open a MOODLE account and to link this to your @edu.selkirk.ca account.Learning Resources
Required:
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· Sayre and Morris, Principles of Macroeconomics, 11 Edition, McGraw-Hill Ryerson.
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· Access to Connect (11 Edition, McGraw-Hill Ryerson) Purchase is necessary for weekly online assignments.
· Access to a windows based computer with an internet connection, a microphone, a web camera and Zoom app
for online meetings.
Recommended:
The following websites are just a few of interest to Economics:
1. fin.gc.ca Federal Ministry of Finance
2. bank.-banque-canada.ca Bank of Canada
3. www.statcan.ca Statistics Canada
Students are strongly encouraged to read contemporary news articles about business and economics from The
Globe and Mail, Sault Star, The Economist, Financial Times, New York Times, and the Wall Street Journal.Detailed Course Content, Topics, and Sequence Covered
1. Course Introduction Economics Toolkit-Sayre and Morris (hereafter referred to as the Text)
2. The Economic Problem
3. Demand and Supply
4. National Income Accounts
5. Growth, Unemployment & Inflation
6. Aggregate Demand & Aggregate Supply
7. Mid-term review / Wrap up outstanding concepts
8. Midterm Exam this week Date and Time TBA
9. Aggregate Expenditures
10. Aggregate Expenditures (cont.)
11. Money and Banking
12. The Money Market
13. International Trade
14. Exchange Rates & Balance of PaymentsAssessment
| Title | Learning Outcomes | Value |
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| Weekly Online Connect Assignments | 1,2,3,4,5,6,7,8,9,10,11 | 10% |
| Tests (4 Tests, 5% each) | 1,2,3,4,5,6,7,8,9,10,11 | 20% |
| Newspaper Analysis | All | 10% |
| Presentation | All | 10% |
| Midterm Exam | 1,2,3,4,5 | 25% |
| Final Exam | 6,7,8,9,10,11 | 25% |
| Total | 100% |
Grading Table
Standard Academic and Career Programs Grading Table
| Percentage |
Letter Grade |
GPA |
| 90-100 |
A+ |
4.33 |
| 85-89 |
A |
4.00 |
| 80-84 |
A- |
3.67 |
| 76-79 |
B+ |
3.33 |
| 72-75 |
B |
3.00 |
| 68-71 |
B- |
2.67 |
| 64-67 |
C+ |
2.33 |
| 60-63 |
C |
2.00 |
| 55-59 |
C- |
1.67 |
| 50-54 |
P |
1.00 |
| 0-49 |
F |
0.00 |
| |
DNW |
0.00 |
See the Academic Calendar for General Information including how to withdraw from course(s) and other regulations.
Disclaimer
Information contained in this course outline is correct at the time of publication. Content of the course is revised on an ongoing basis to ensure relevance to changing educational, employment and market needs. The instructor will endeavor to provide notice of changes to students as soon as possible. The instructor reserves the right to add or delete material from courses.