Unit II only
Surveys important macroeconomic concepts such as gross domestic product (GDP), unemployment, and inflation.
Students learn how to determine the overall levels of output, unemployment, and prices. Students examine the concepts of
scarcity and opportunity cost, explore the framework of supply and demand, and review factors that impact the overall
economic activity and macroeconomic stability. Finally, students are introduced to selected topics related to international
trade and finance and investigate government fiscal and monetary policy and their influence on the level of economic
McEachern, W. A. (2019). Macro ECON6: Principles of macroeconomics (6th ed.). Cengage Learning.
Course Learning Outcomes
Upon completion of this course, students should be able to:
1. Recognize the sources of the central economic problem.
2. Define the role of supply and demand in determining prices and quantities of goods and services.
3. Discuss how various national economic indicators relate to economic growth.
4. Discuss the effects of unemployment and inflation on the economy.
5. Differentiate the aggregate expenditure and demand model of the macro economy from the supply and demand
model at the micro level.
6. Discuss the interaction of the federal government and the Federal Reserve Bank in controlling the U.S. economy.
7. Illustrate monetary theory using the supply and demand model.
8. Interpret the international economy through trade interdependences and financial interactions.
Honesty and integrity are taken very seriously at Waldorf University. All students should be familiar with the Waldorf
University Academic Integrity Policy (found in the current Student Handbook) and the consequences that will result from
breaches of this policy.
Upon completion of this course, the students will earn 3.00 hours of college credit.
ECO 2401, Principles of
ECO 2401, Principles of Macroeconomics 1
1. Study Guide: Course units contain a Study Guide that provides students with the learning outcomes, unit lesson,
required unit resources, assignments, and supplemental resources.
2. Learning Outcomes: Each unit contains Learning Outcomes that specify the measurable skills and knowledge
students should gain upon completion of the unit.
3. Unit Lesson: Unit Lessons, which are located in the Study Guide, discuss lesson material.
4. Required Unit Resources: Units contain Required Unit Resources from one or more chapters from the textbook
and/or outside resources.
5. Suggested Unit Resources: Suggested Unit Resources are listed within the Study Guide. Students are encouraged
to read the