Business Administration

BUS 1104 Macroeconomics

BUS 1104: Macroeconomics

Prerequisites: BUS 1101: Principles of Business Management

Course Description: Macroeconomics explores the intricate workings of large-scale economic systems, encompassing crucial topics that underpin our global economy. This course will examine the measurement of economic performance through Gross Domestic Product (GDP), assess economic growth and its components, explain unemployment, analyze inflation, and scrutinize international trade and monetary policies. These insights will enhance your analytical skills and deepen your comprehension of the real-world impact of these concepts. This course establishes a solid foundation for confidently navigating the complexities of the modern economic landscape, providing you with valuable knowledge to make well-informed decisions in both your personal and professional life while contributing to informed policy discussions in our ever-evolving world. 

Required Textbook and Materials: UoPeople courses use open educational resources (OER) and other materials specifically donated to the University with free permissions for educational use. Therefore, students are not required to purchase any textbooks or sign up for any websites that have a cost associated with them. The main required textbooks for this course are listed below, and can be readily accessed using the provided links. There may be additional required/recommended readings, supplemental materials, or other resources and websites necessary for lessons; these will be provided for you in the course's General Information and Forums area, and throughout the term via the weekly course Unit areas and the Learning Guides.

  • Mossessian, N., Moustafa, S., & Thompson, C. (2013). How to Format a Syllabus Properly (10th ed.). Los Angeles, CA: University of the People Press. Available at
  • Shapiro, D., MacDonald, D., Greenlaw, S. A., Dodge, E., Gamez, C., Jauregui, Andres., Keenan, D., Moledina, A., Richardson, C., & Sonenshine, R.  (2023). Principles of macroeconomics (3rd ed.).  OpenStax. licensed under CC 2.0. 

Software Requirements/Installation: No special requirements.

Learning Objectives and Outcomes:

By the end of this course students will be able to:

  1. Apply the key macroeconomic indicators to interpret economic performance and trends effectively. 

  1. Explain the impact of international trade and monetary policies on economic systems. 

  1. Recognize appropriate macroeconomic concepts for personal financial management and policy discussions.

Course Schedule and Topics: This course will cover the following topics in eight learning sessions, with one Unit per week. The Final Exam will take place during Week/Unit 9 (UoPeople time).

Week 1: Unit 1 -  Macroeconomic Fundamentals

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Explain the significance of Gross Domestic Product (GDP) as a measure of a country's economic activity.
  • Identify the key factors that contribute to economic growth.
  • Examine the concept of economic convergence and its implications for global economies.

Week 2: Unit 2 - Unemployment and Inflation

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Describe types of unemployment and their measurement.
  • Explain the methods used to measure changes in the cost of living and track inflation.
  • Illustrate the relationship between inflation and indexing, and its impact on economic stability. 

Week 3: Unit 3 - Aggregate Demand and Supply

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Describe the Aggregate Demand/Aggregate Supply (AD/AS) model and its relevance in macroeconomic analysis.
  • Identify and explain the factors that lead to shifts in aggregate supply and demand. 
  • Interpret how the AD/AS model incorporates economic growth, unemployment, and inflation. 

Week 4: Unit 4 - Macroeconomic Policy Perspectives

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Compare and contrast the Keynesian and Neoclassical perspectives in macroeconomic analysis.
  • Analyze the Phillips Curve and its implications for economic policy. 
  • Discuss how market forces operate within the Keynesian perspective.

Week 5: Unit 5 - Money, Banking, and Monetary Policy

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Define the functions of money and explain the measurements of money supply.
  • Outline the role of banks in the creation of money and their importance in the economy.
  • Explain the role of central banks and the execution of monetary policy in managing economic outcomes.

Week 6: Unit 6 - Fiscal Policy and Government Borrowing

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Examine the components of government budgets, including government spending and taxation. 
  • Illustrate the impact of fiscal policy on addressing economic challenges such as recession, unemployment, and inflation. 
  • Examine the implications of government borrowing on investment, trade balances, and economic growth. 

Week 7: Unit 7 - International Trade and Finance

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Assess the components of trade balances and their significance in international trade.
  • Explain the functioning of foreign exchange markets and how exchange rates affect economies.
  • Examine the macroeconomic effects of exchange rates and the policies that influence them.

Week 8: Unit 8 - International Trade, Globalization, and Protectionism 

Unit Learning Outcomes:

By the end of this Unit, you will be able to:

  • Discuss the concepts of absolute and comparative advantage in international trade.
  • Explain the effects of reducing barriers to international trade on economies.
  • Analyze the arguments for and against restricting imports and the tradeoffs involved in trade policy decisions.

Week 9: Unit 9 - Course Review and Final Exam

Course Requirements:

Discussion Assignments & Response Posts/Ratings
Some units in this course require that you complete a Discussion Assignment. You are required to develop and post a substantive response to the Discussion Assignment in the Discussion Forum. A substantive response is one that fully answers the question that has been posted by the instructor. In addition, you must extend the discussion by responding to at least two (2) of your peers’ postings in the Discussion Forum. Your discussion posts will be assessed by your instructor.  Discussion Forums are only active for each current and relevant learning week, so it is not possible to contribute to the forum once the learning week has come to an end. Failure to participate in the Discussion Assignment by posting in the Discussion Forum and responding to peers as required may result in failure of the course.

Assignment Activities
The assignment activities are graded by your instructor. The grading rubric is listed under the assignment instructions. The grading rubric is a document that outlines the criteria that your instructor will use to grade your work.

This course will contain three types of quizzes – the Self-Quiz, the Graded Quiz, and the Review Quiz. These quizzes may contain multiple choice, true/false, or short answer questions. The results of the Self-Quiz will not count towards your final grade. However, it is highly recommended that you complete the Self-Quiz to ensure that you have adequately understood the course materials. Along with the Reading Assignments, the results of the Self-Quiz should be used as part of an iterative learning process, to thoroughly cover and test your understanding of course material. You should use the results of your Self-Quiz as a guide to go back and review relevant sections of the Reading Assignments. Likewise, the Review Quiz will not count towards your final grade, but should also be used to assist you in a comprehensive review and full understanding of all course material, in preparation for your Final Exam. Lastly, the results of the Graded Quiz will count towards your final grade. Specific instructions on the format and content of the Graded Quiz will be provided by your instructor.

Final Exam
The Final Exam will take place during the Thursday and Sunday of Week/Unit 9, following the completion of eight units of work. The format of the Final Exam is similar to that of the quizzes, and may contain a combination of different question types. You will have one attempt to take the exam, and it will be graded electronically. Specific instructions on how to prepare for and take the exam will be provided during Week/Unit 8.

Course Forum
The Course Forum is the place to raise issues and questions relating to the course. It is regularly monitored by the instructors and is a good place to meet fellow students taking the same course. While it is not required to participate in the Course Forum, it is highly recommended.

Class Introductions
This section is your opportunity to introduce yourself to your classmates and create a vibrant learning community. By sharing your background, interests, and goals, you can create meaningful connections and discover commonalities with your peers. 

Course Policies:

Grading Components and Weights
Each graded component of the course will contribute some percentage to the final grading scale, as indicated here:

Items Number of assignments Weight
Discussion Forum 4 28%
Assignment Activity 7 56%
Graded Quiz (Unit 4) 1 8%
Final Exam 1 8%

Grading Scale
This course will follow the standard 100-point grading scale defined by the University of the People, as indicated here:

Letter Grade
Grade Scale Grade Points
A+ 98-100 4.00
A 93-97 4.00
A- 90-92 3.67
B+ 88-89 3.33
B 83-87 3.00
B- 80-82 2.67
C+ 78-79 2.33
C 73-77 2.00
C- 70-72 1.67
D+ 68-69 1.33
D 63-67 1.00
D- 60-62 0.67
F Under 60 0.00

Grade Appeal

If you believe that the final grade you received for a course is erroneous, unjust, or unfair, please contact your course instructor. This must be done within seven days of the posted final grade. For more information on this topic, please review the Grade Appeal Procedure in the University Catalog.

Non-participation is characterized by lack of any assignment submissions, inadequate contributions to the Discussion Forums, and/or lack of peer feedback to Discussion/Written Assignments. Also, please note the following important points about course participation:

  • Assignments must be submitted on or before the specified deadline. A course timeline is provided in the course schedule, and the instructor will specify deadlines for each assignment.
  • Any student showing non-participation for two weeks (consecutive or non-consecutive) is likely to automatically fail the course.
  • Occasionally there may be a legitimate reason for submitting an assignment late. Most of the time, late assignments will not be accepted and there will be no make-up assignments.
  • All students are obligated to inform their instructor in advance of any known absences which may result in their non-participation.

Academic Honesty and Integrity
When you submit any work that requires research and writing, it is essential to cite and reference all source material. Failure to properly acknowledge your sources is known as plagiarism – which is effectively passing off an individual’s words or ideas as your own. University of the People adheres to a strict policy of academic honesty and integrity. Failure to comply with these guidelines may result in sanctions by the University, including dismissal from the University or course failure. For more information on this topic, please review the Academic Integrity Policy in the University Catalog.

Any materials cited in this course should be referenced using the style guidelines established by the American Psychological Association (APA). The APA format is widely used in colleges and universities across the world and is one of several styles and citation formats required for publication in professional and academic journals. Refer to the UoPeople APA Tutorials in the LRC for help with APA citations. For help with using library, kindly refer to UoPeople Library.

Code of Conduct

University of the People expects that students conduct themselves in a respectful, collaborative, and honest manner at all times. Harassment, threatening behavior, or deliberate embarrassment of others will not be permitted. Any conduct that interferes with the quality of the educational experience is not allowed and may result in disciplinary action, such as course failure, probation, suspension, or dismissal. For more information on this topic, please review the Code of Conduct Policy in the University Catalog.