This is a Principles of Macroeconomics Course developed through the Ohio Department of Higher Education OER Innovation Grant. This work was completed and the course was posted in January 2019. The course is part of the Ohio Transfer Assurance Guides (TAGs) as OSS 005. For more information about credit transfer between Ohio colleges and universities, please visit: www.ohiohighered.org/transfer.Team LeadAmyaz Moledina College of WoosterContent ContributorsRosemarie Emanuele Ursuline CollegeKenneth Fah Ohio Dominican UniversityDarcy Hartman Ohio State University – NewarkLibrarianNathan Wolfe Kenyon CollegeReview TeamSeth Kim Central Ohio Technical CollegeJoe Nowakowski Muskingum University
This topic is not often covered explicitly in a principles of macroeconomics course. Nonetheless, the topic of economic systems might lead to coverage of efficiency and government intervention.
The learning objectives below refer to the typical goals one would have for an introduction to macroeconomics. Most economists consider the discipline as “a way of thinking”. The key question we answer is “how we make choices under scarcity”. However, we encourage you to consider other alternative ways to conceptualize and teach economics or even introduce pluralistic ideas into your course. For example, the CORE Economics project describes economics as, “The study of how people interact with each other and with their natural surroundings in providing their livelihoods, and how this changes over time.” The “economy is part of society, which in turn is part of the biosphere.” (Chapter 1.11). More importantly, many of the factors and commodities that give us economic growth are socially (re)produced and uncompensated. Consider alternative conceptualizations of the macroeconomy such as the one proposed in UNDP (2012): Gender and Economic Policy Management Intitiave, page 30 outlined in the figure above. The supplemental content is an excellent place to find videos to enliven your classes. Listed alternative resources can be used to familiarize yourself with material that goes beyond the standard treatment.
This is a lesson on the basic economic tools of supply and demand. Students will use be introduced to the potential results of the interactions of buyers and sellers in a market using basic supply and demand data. Students will be asked to explore different examples of the use of market information to determine market price and the reasons for changes in market price.
This topic is considered optional as it would primarily be part of a principles of microeconomics course. If microeconomics is a prerequisite for macroeconomics, this topic can either be skipped entirely, or could be reviewed briefly. In some macroeconomics principles courses, this may need to be presented as new information. Learning objectives of particular interest for a macro course are 1, 2, 7, and 8. Please note that some of the learning objectives contained in this section may overlap with the International Trade unit.