ECN1145 Economics

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ECN1145 Economics

This course expounds on the fundamental economics concepts and how economic systems operate. Topics such as inflation, deflation, credit, transactions, deleveraging, and debt cycles will be examined in detail. The role of the Federal Reserve and how its monetary policy influences interest rates will also be explored. This course will provide students with the tools to interpret the economic climate they live and work in, enabling them to make informed decisions based on economic conditions.

Students will gain a solid understanding of key economic terms and theories while becoming aware of how governments regulate economies. They will learn about credit, inflation, the value of money, and the factors that cause economies to fluctuate. This course will also explore the economic cycles that materialize in economies and the causes behind these swings.

Key Topics Covered

  • Compare and Contrast the Components of Microeconomics and Macroeconomics: Understand the differences between microeconomics, which focuses on individual markets and consumer behavior, and macroeconomics, which examines broader economic trends and national economies.
  • Forecast Economic Outcomes by Formulating and Manipulating Supply and Demand Curves: Learn how to use supply and demand curves to predict changes in market prices and quantities in response to various factors.
  • Discriminate Between the Different Types of Unemployment: Identify and understand the various forms of unemployment, such as frictional, structural, and cyclical, and their economic impacts.
  • Comprehend and Apply Economics Vocabulary in Relevant Contexts: Develop a solid understanding of economic terms and be able to apply them effectively in discussions and analyses.
  • Clarify How Markets Work and Prices Are Determined Using Supply and Demand Principles: Learn the mechanisms of markets and how supply and demand interact to set prices.
  • Integrate Economics into Various Life Situations: Recognize how economic principles apply to everyday decision-making and various real-world scenarios, from personal finances to business operations.
  • Evaluate Current Economic Effects and Dilemmas: Analyze contemporary economic issues and challenges, understanding their causes and potential solutions.

REFERENCE MATERIALS
for
Full-CLC Students

Based on your HESEAP application, you have been awarded full CLC for this course, classifying it as a test-out course, meaning no traditional instruction will be provided. Your CLC award signifies that you possess knowledge, whether gained through prior education or experience, equivalent to or surpassing what would typically be learned in a traditional college setting. Consequently, classroom attendance is not required; however, you are required to successfully pass a final exam for the course.

USILACS remains committed to fostering your academic success. Should you find a refresher necessary or wish to deepen your understanding of the subject, it is recommended that you explore a variety of free online educational resources on the suggested topics below.

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Search Topics: Publications/Videos/Papers

The majority of the exam questions for this course are based upon information contained in the below search topics.

Please note that USILACS is not the source of the above links; therefore, we do not have control over their accessibility. Some links may no longer be active, and in such cases, we encourage you to copy and paste the title into Google or YouTube to find an alternative source. Should you encounter an inactive link, feel free to contact our academic team at academics@usilacs.org for assistance or to notify them so the link can be updated.

Occasionally, the links may prompt you to download reference material in PDF format. While we have made every effort to ensure the safety of the sources, we encourage you to take precautions to verify the security of any downloads on your device.

Although comprehensive study materials have been provided, you can search for the topics and titles on Google and YouTube if additional resources are needed.

Tips for Success
Remember that the exams are open-book, meaning you can keep reference materials open in other tabs for easy access during the exam. Some reference materials are extensive, with hundreds of pages. To quickly find answers, follow these steps:

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  2. Open the reference material.
  3. Press ‘Ctrl’ + ‘F’ on your keyboard to open a search bar.
  4. Enter your keyword or phrase and click search. This will display all instances of that word or phrase within the document, allowing for more efficient navigation.

 

Course Content