Course Objective:
The objective and focus of this course will be to provide students with a well-rounded overview
of how the monetary policy is developed in the US for the purpose of promoting long term
economic growth, with low inflation and full employment. These objectives are similar in other
countries, however not all countries have the same central banking authority as the US. This
class will discuss ways in which the leading nations of the world have come together to promote
free and open trade, with managed cooperative policy.
A brief contrast is necessary to provide a view of how the world nations have changed during the
post world war II era, focusing on the current era of cooperation through business and political
policy. Students will learn about the role of regional trading blocs and foreign exchange policy as
tools of promoting economic growth and development. The role of institutions such as the World
Bank, the International Monetary Fund (IMF), the World Trade Organization (WTO) and others
will be discussed as related to historic and current activities.
Paper Description: Purpose: Overview of current research and analysis in the study of monetary policy in
the US and global community, together with an overview of the historical
development of money and banking and economic growth.
Content: This course will involve a team project assignment to show how government
policy is used to promote economic growth and stability, with an emphasis on
the role of monetary policy and the business cycle. The project analysis will
focus on the recent period from 2005 – 2014 with an emphasis on the Southern
California economy and how the area compares with the nation overall. Required textbook:
Understanding Business, by William G. Nickels, James M. McHugh and Susan M. McHugh
8th edition 2008. ISBN 978-0-07-310597-0
http://www.mhhe.com/ub9e
Essentials of Economics, by Campbell R. McConnell, Stanley L. Brue and Sean M. Flynn
edition 2012. ISBN 978-0-07-351144-3
Recommended materials:
o Wall Street Journal, NY Times and LA Times daily newspaper
o The Washington Post a daily newspaper from the nation’s capitol and The
Nightly Business Report (TV program) Course Topics:
1. Understanding Business (Part One: Cultivating a Business in Diverse Global
Environments) Chapters 1-3 19th 2. Essentials of Economics (Part One: Introduction to Economics and the Economy)
Chapters 1-5
3. Understanding Business (Part Two: Business Ownership-Starting a Small Business)
Chapters 5-6

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