IMPORTANT: Students are only able to enroll in one online course per semester at the Umbra Institute. A University of Mississippi transcript will be provided as part of the cost and more information can be found clicking here.
It is the responsibility of the student to ensure that credit will be offered at their home university for this course.
This online course offered by the University of Mississippi in cooperation with the Umbra Institute and is designed to provide an introductory overview of macroeconomics. Note: This course carries a supplemental program fee.
Courses in the principles of economics have multiple purposes. For some students the courses become a foundation for further studies in the field of economics or business administration. For many students the introductory courses may be the only formal encounter they have with economics as a science. However, whether or not one studies economics for college credit again, the learning continues, for a person’s entire life is taken up with matters which are either economic in nature or which are limited or regulated in one way or another by economic considerations. An understanding of the way in which the economy operates, i.e., the principles of economics, should, then, make us better able to deal with economic decisions throughout our lives whether we are concerned with earning income, investing savings, meeting a payroll in industry, serving in Congress, teaching a Bible class, or dealing with anything else that the future holds.
In Economics 203 the subject matter of the academic discipline (economics) is first introduced in a general way; then the course turns to the principles that underlie determination of levels of employment and unemployment, inflation, fiscal and monetary policy, and economic growth. In Economics 202 the operation of the price system is explored as it functions in both the markets for final goods and services and in the resource markets. Throughout both courses the influence of government–its role in providing public goods and services and in modifying the behavior of the private sectors of the economy (households and business firms)–is considered.
Although this course is being studied through an American university with a textbook published in the United States, the economy of today is a global economy and the study cannot be isolated to a single nation.
Course Objectives (include but are not limited to):
- Understand the principles that underlie determination of levels of employment and unemployment
- Understand the principles that underlie inflation
- Understand the principles that underlie fiscal and monetary policy
- Understand the principles that underlie economic growth
For detailed information and syllabus please visit:
Principles of Economics by Mankiw, 7th Edition ISBN-13: 978-1-285-16587-5
Principles of Microeconomics by Mankiw, 7th Edition ISBN: 978-1-285-16591-2
Earlier editions acceptable!
NOTE: whatever version of the Mankiw text you use, be sure to check the chapter titles–the chapter numbers may be different but the titles will align with the lessons.