Program Review Business Administration Dr. Richard Harvey, Dean Dr. Jack Kirby, Associate Dean May 2009

Describe the sources and types of unemployment and their economic consequences.

Define money, describe its functions, and explain how banks create money and how Fed controls the quantity of money.

Describe the sources of inflation and how it is measured.

Describe the expansionary and contractionary fiscal policy.

Explain and compare alternative monetary policy strategies.

Upon successful completion of this course, students will be able to:

Explain how demand and supply determine price and quantity in a market and explain the effects of changes in demand and supply.

Define, explain the factors that influence, and calculate the price elasticity of demand, price elasticity of supply, cross elasticity of demand, and the income elasticity of demand.