Students registering in grouped study mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the Faculty of Business Student Support Centre at 1-800-468-6531.
Overview
ECON 248 (Macroeconomics), in conjunction with ECON 247 (Microeconomics), provides a basic introduction to the entire discipline of economics. The study of macroeconomics, microeconomics, or both can help all students understand our society better. While microeconomics deals with individual decision makers such as households, firms, and governments, macroeconomics deals with aggregates. ECON 248 looks at economy-wide variables, such as inflation, unemployment, balance of international payments, and how government policies affect these variables.
ECON 248 deals with both economic theory and policy. For the future economist, theory is absolutely essential because senior economics courses will assume that you have already mastered certain analytical tools routinely used by economists. However, you should not take the parts of this course that deal with current economic issues or policies lightly. Rather, you should see those sections as opportunities to test your new analytical skills. Although you may find the discussion of current economic problems and policies more interesting than abstract theory, you should remember that even simple theoretical tools can help develop your understanding of the solutions to real-world problems.
In order to develop this understanding of economic issues and theories, you will need to learn the following:
economic concepts—for example, how economists use macroeconomic terms, such as investment, economic growth, money, inflation, interest rates, exchange rates, unemployment, budget deficits, and multipliers
economic facts—for example, what the powers and responsibilities of the Bank of Canada are, how the Canadian economy performed in the recent past, and the internationalization of the Canadian economy
analytical tools—for example, how economists determine the relationship between output and unemployment, inflation and unemployment, and inflation and interest rates
Finally, economics is a quantitative discipline. By its very nature, it deals with numbers and requires some understanding of mathematics. There are no prerequisites for ECON 248.
Outline
Unit 1: Introduction to Economics
Unit 2: The Data of Macroeconomics
Unit 3: The Real Economy in the Long Run
Unit 4: Money and Prices in the Long Run
Unit 5: The Macroeconomics of Open Economies
Unit 6: Macroeconomic Fluctuations and Policy
Learning outcomes
After successfully completing this course, you should be able to do the following:
Know economic definitions — for example, macroeconomic terms, such as investment, economic growth, money, inflation, interest rates, exchange rates, unemployment, budget deficits, and multiplier.
Know economic facts — for example, for example, what the powers and responsibilities of the Bank of Canada are, how the Canadian economy performed in the recent past, and the internationalization of the Canadian economy.
Develop analytical tools — for example, how economists determine the relationship between output and unemployment, inflation and unemployment, and inflation and interest rates.
Have some understanding of mathematics.
Evaluation
To receive credit for ECON 248, you must receive a grade of 50 percent or higher on the final examination and achieve an overall grade of at least D (50 percent) for the entire course. Your final grade is determined by a weighted average of the grades you receive on the activities listed below. These activities are weighted as follows:
Activity
Weight
Quizzes (six worth 5% each)
30%
Assignment 1
20%
Assignment 2
20%
Final Online Exam
30%
Total
100%
The final examination for this course must be requested in advance and written under the supervision of an AU-approved exam invigilator. Invigilators include either ProctorU or an approved in-person invigilation centre that can accommodate online exams. Students are responsible for payment of any invigilation fees. Information on exam request deadlines, invigilators, and other exam-related questions, can be found at the Exams and grades section of the Calendar.
To learn more about assignments and examinations, please refer to Athabasca University’s online Calendar.
Materials
Mankiw, N. G., Kneebone, R. D., & McKenzie, K. J. (2020). Principles of macroeconomics (8th Cdn. ed.). Nelson Education. ISBN: 9780176888237 (eText)
All other learning resources will be available online.
Challenge for credit
Overview
The challenge for credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.
Full information about challenge for credit can be found in the Undergraduate Calendar.
Evaluation
To receive credit for the ECON 248 challenge registration, you must achieve a grade of at least D (50 percent) on the examination.
Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized study counterparts.