ISI - ECON 2201 - Principles of Macroeconomics

Course Description

Principles of Macroeconomicscovers the organization and operation of the U.S. economy. Unlike microeconomics, which focuses on individual decision-makers and markets, macroeconomics analyzes the aggregate economy as a whole, focusing on indicators like GDP, unemployment, inflation, interest rates, and public finance. The course explores the causes and policy debates surrounding the 2008 financial crisis, the subsequent deep recession, and the resulting revival of Keynesian economics.

Note: This course carries only two credits after ECON 2720.

Learner Outcomes

Broad Objectives

• Foster critical thinking and communication skills.
• Apply analytical tools from economic theory to macroeconomic issues.
• Enhance student intrapersonal and interpersonal intellectual awareness.

Specific Objectives

By the end of this course, students will be able to analyze:

• Core Economic Concepts: Basic economic thinking, terminology, logic, individual incentives, and how choices lead to markets.
• Market Models & Variables: Supply and demand, market failures, externalities, private property rights, free trade, real output, inflation, and unemployment.
• Government & Public Policy: Public decision theory, the incentives of public decision-makers, government failures, and the debate over government's role and its effect on private choices.
• Schools of Thought & Policy Tools: Policy tools available to decision-makers and the economic schools influencing them (including Keynesian, monetarist, supply-side, and rational expectations).
• Growth & Global Interconnectedness: Economic growth, technological and human capital development, international trade, and Third World development issues.
• Historical Context & Relevance: The 2000s financial collapse, the subsequent recession, the changing political landscape following the election of Barack Obama, and the relevance of economics to the student's life and career.

Required Course Materials

Parkin, Michael. Macroeconomics. 11th Ed. Prentice Hall: 2013. ISBN: 9780133020250

RECOMMENDED: computer with CD drive

View Course Syllabus

Expected Course Timeline

Most ISI courses are designed so that students can complete them within 3 months to 1 year. If you are attempting to complete a course more quickly than this, please contact ISI to explore your options.

Sponsor Institution

Credits earned for this course are included in a University of Idaho transcript.

This is an INDEPENDENT STUDY IN IDAHO course

To learn about program and refund policies, visit www.uidaho.edu/isi.

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COURSE NUMBER NOTICE
Beginning with the 2025-2026 Catalog year, the University of Idaho transitioned to 4-digit course numbers. As ISI works through this transition, you may continue to see 3-digit course numbers during this time. A crosswalk is available online.