AIB Course Code: 2310
Course Length: 16 weeks
Course Description:
This program introduces you to the fundamental principles of economics. Special emphasis is placed on macroeconomics and topics of importance to you as a banker. The course covers the basics of economic theory and includes examples of the application of economics to banking.
Audience:
Bank personnel who have not had a formal course in Economics and wish to increase their understanding of economics as it relates to banking.
Learning Objectives:
After successfully completing this program, you will be able to:
- Understand the meaning of economic terminology and the discipline of economic reasoning
- Follow economic news and analyze important economic questions
- Locate and obtain economic data and information and use it to examine contemporary economic issues
- Apply economic principles to important questions in the financial services industry
- Use basic graphing and graph interpretation skills to examine economic questions
- Understand the major economic policy problems faced by government: economic growth, unemployment, inflation, and budget deficits and debt
- Understand the aggregate demand/aggregate supply model and its importance in examining major economic policy problems
- Recognize major economic policy controversies and the various schools of thought associated with them
Course Credits: AIB: 3.0; ICB: 45 (CLBB, CFTA [INV] or CSOP)
Textbook
Economics: Fundamentals for Financial Services Providers, 3rd edition, 2006, ABA
Topics:
The topics to be covered are as follows:
- The Economic Problem: Scarce Resources, Unlimited Wants, and Opportunity Costs
- The Concepts of Demand, Supply, and Equilibrium
- Business Organization
- Unemployment and Inflation
- The Business Cycle
- Aggregate Demand and Aggregate Supply
- Expenditures Analysis
- Fiscal Policy
- Money and Financial Markets
- The Federal Reserve Structure and Policy
ACE College Credit Recommendation
In the lower division baccalaureate/associate degree category, 3 semester hours in Economics or Social Science elective
Prerequisites
None
Required Software:
None
