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ECON-101 Principles of Economics (Macro)

Principles of macroeconomics introduces you to economic issues which affect an entire economy. Topics include demand and supply theory; gross domestic product; productivity; economic growth analysis; inflation; unemployment; the economic role of governments; fiscal and monetary policies; foreign exchange rates; and the balance of payments. You will more comfortably read and understand newspapers, magazines, news reports and books with economic issues.

PrerequisitesPlacement in or completion of ENGL-121 or ENGL-101
InstructorJohn Bouman
OfficeScience and Technology Building 254
Phone(443) 518-4873

Overall Course Objectives | Major Course Topics | Course Format | Orientation | Course Requirements | Texts and Materials |Exams  

Overall Course Objectives

Once you have completed this course you will be able to:

  • Define economics and describe how you can use economic knowledge in individual decision-making.
  • Apply concepts related to economic growth and opportunity costs based on production possibilities curve analysis.
  • Determine how changes in supply and demand affect market prices and quantities produced and purchased.
  • Evaluate which economic factors lead to maximum gross domestic product and a nation's greatest wealth.
  • Identify the main source of long term inflation and evaluate government policies related to inflation.
  • Apply demand and supply analysis to unemployment issues and full employment policies.
  • Compare the effectiveness of various schools of economic thought: Keynesian, Neo-Keynesian, Classical Economics, Neo-classical economics, Monetarist, Austrian economics, etc.
  • Describe the functions of the Federal Reserve System and evaluate the Federal Reserve's monetary policies.
  • Determine how foreign exchange rate fluctuations affect international trade and describe the components of the balance of payments.
  • Analyze the strengths and weaknesses of a free market system.
  • Critically analyze the validity of economic information found in newspapers, journals, magazines, and other media.

Major Course Topics

  • Economic Systems.
  • Supply and Demand.
  • Gross Domestic Product, Productivity, and Economic Growth.
  • Fiscal Policy.
  • Monetary Policy and Inflation.
  • Unemployment.
  • Schools of Thought.
  • Foreign Exchange Rates and the Balance of Payments.
  • Current Economic Issues.

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Course Format

This course:

  • Is not self-paced.
  • Does not require on-campus meetings, except for one final exam taken in a test centerin your area. (For more information on taking exams, see the "Exams" section below).
  • Does not require real-time chats.

Once you have registered, email me at Be sure to include your name and the course and section and semester you are enrolled in. My reply message to you will include the URL (or Internet address) of our course resources and your personal username and password so that you can access our online class. I will forward this information to you shortly before the start of our semester.

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This course does not have a face-to-face orientation. You will be informed about the course and how to use the course software via email messages. Be sure to email me at, so that I can send you the orientation information. If you can't reach me by email, please call 443-518.4873.

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Course Requirements

  • Review the “What you should know before you register” section of the Distance Learning Homepage.
  • Completion of 10 practice problem sets.
  • Five open book online quizzes, each consisting of approximately twenty multiple choice questions or eight short answer essay questions.
  • One final exam (to be taken in a local test center), consisting of approximately 50 multiple-choice questions or 16 short answer essay questions.
  • Completion of 1,250 word position paper.  This project also includes reviewing several other students' position papers and providing a critique of their papers, as well as providing a response to the critiques given to you.
  • Participation in a discussions board and threaded discussions.

Texts and Materials


 To visit our bookstore's online sales site, please visit and follow the instructions for selecting textbooks.


  1. Various Internet Readings (See the "Useful Economics Resources" section on the Economics Department Home Page).
  2. The Wall Street Journal (available on the internet or by subscription: See the "Useful Economics Resources" section on the Economics Department Home Page).
    Buy your textbooks from our online Bookstore, or visit our Bookstore. (Maps)

Technical Requirements and Plug-Ins:

Review the Technical Requirements link above. The following plug-ins are required for this course:

  • Acrobat Viewer
  • Internet Explorer
  • Netscape
  • PowerPoint Viewer
  • Real Player
  • Windows Media Player
  • Word Viewer


For purposes of verification and assessing learning outcomes, this course has a proctored final exam at the HCC Testing Center for students in the local region or at a regional institution for remote students. The exam will have a flexible window of time during which it needs to be taken rather than a single date and time.

If you have any questions or comments about this course, please send a message to John Bouman,

Last updated on 24-Sept.-09

© Howard Community College, 2008

Student Profile - Maribel