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Introduction to economics; demand, supply and equilibrium; national income accounting; saving, consumption and investment; the determination of national income; fiscal policy and national income; the business cycle; midterm examination - macroeconomics; the role and importance of money; commercial banks and the money supply; the federal reserve and monetary policy; synthesis of monetary and income analysis; full employment and price stability; economic growth; final examination - macroeconomics; demand, supply and elasticity; the theory of consumer demand and utility; costs of production; price and output; perfect competition; midterm examination - microeconomics; price and output - monopoly; price and output - monopolistic competition and oligopoly; production and the demand for economic resources; wage determination; rent, interest and profits; international trade and finance; final examination - microeconomics.