This course provides the student with a theoretical and applied comprehension to fundamental principles of microeconomics and macroeconomics. It encompasses the basis of the economic way of thinking, the operation of markets, the role of government, and a firms’ profit maximizing decisions as it operates in an environment with varying levels of competition and costs. It includes the examination of economic statistics, the forces that determine national income and international trade flows, and the role of monetary and fiscal policies. This course qualifies as a prerequisite for entrance into the Chartered Professional Accountant (CPA) Professional Education Program (PEP).
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Upon successful completion the student will be able to:
Analyze the basic economic problem of scarcity, choice, and opportunity cost.
Evaluate gains from trade.
Differentiate the operation of the market forces of supply and demand.
Evaluate and analyze the competitive environment for business and its impacts on profits and costs.
Evaluate and analyze the impacts of government regulations and policies on industry and markets.
Assess capital markets and their relationship to investor decision making.
Compare and analyze important economic statistics.
Assess changes in aggregate demand and aggregate supply and the resultant changes to economic statistics.
Analyze commercial banking and its role in lending and deposit creation.
Compare and contrast open versus closed economies and benefits and costs of international trade.
Evaluate exchange rate determination and the impacts on open economy economic statistics.
Analyze the relationships between productivity growth, growth of national income, and standards of living.
Effective as of Spring/Summer 2015
ACCG 5200 is offered as a part of the following programs: