1 Course Map
Course map created by Rolando Sanchez, Alamo Colleges
Download the Excel version here.
https://openstax.org/details/books/principles-macroeconomics-2e
All assessments are from the OpenStax text and resources.
| 1. Explain the role of scarcity, specialization, opportunity cost and cost/benefit analysis in economic decision-making. | Scarcity | Chapter 1 – Welcome to Economics |
| Opportunity Cost | Chapter 2 – Choices in a World of Scarcity | |
| Marginal Analysis | Chapter 2 – Choices in a World of Scarcity | |
| 2. Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. | Demand | Chapter 3 – Demand and Supply |
| Supply | Chapter 3 – Demand and Supply | |
| Equilibrium | Chapter 3 – Demand and Supply | |
| 3. Define and measure national income and rates of unemployment and inflation | Gross Domestic Product | Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth |
| Unemployment Rate | Chapter 8 – Unemployment | |
| Inflation Rate | Chapter 9 – Inflation | |
| 4. Identify the phases of the business cycle and the problems caused by cyclical fluctuations in the market economy. | Business Cycle | Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth |
| Potential GDP | Chapter 6 – The Macroeconomic Perspective; Chapter 7 – Economic Growth | |
| Natural Unemployment | Chapter 8 – Unemployment | |
| 5. Define money and the money supply; describe the process of money creation by the banking system and the role of the central bank. | Money Creation Process | Chapter 14 – Money and Banking |
| Federal Reserve System | Chapter 14 – Money and Banking | |
| Tools of Federal Reserve | Chapter 14 – Money and Banking | |
| 6. Construct the aggregate demand and aggregate supply model of the macro economy and use it to illustrate macroeconomic problems and potential monetary and fiscal policy solutions. | AD-AS Model | Chapter 11 – The Aggregate Demand/Aggregate Supply Model |
| Fiscal Policy | Chapter 17 – Government Budgets and Fiscal Policy; Chapter 18 – The Impacts of Government Borrowing | |
| Monetary Policy | Chapter 15 – Monetary Policy and Bank Regulation | |
| 7. Explain the mechanics and institutions of international trade and their impact on the macro economy. | Comparative Advantage | Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism |
| Free Trade vs. Protection | Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism | |
| International Trade Restrictions | Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism | |
| 8. Define economic growth and identify sources of economic growth. | Economic Growth Rates | Chapter 7 – Economic Growth; Chapter 19 – Macroeconomic Policy Around the World |
| Economic Growth Theories | Chapter 7 – Economic Growth; Chapter 12 – The Keynesian Perspective; Chapter 13 – The Neoclassical Perspective; Chapter 19 – Macroeconomic Policy Around the World | |
| Comparative Advantage | Chapter 10 – The International Trade and Capital Flows; Chapter 16 – Exchange Rates and International Capital Flows; Chapter 20 – International Trade; Chapter 21 – Globalization and Protectionism | |
| ALL ASSESSMENTS ARE FROM THE OPENSTAX TEXT AND RESOURCES |
