Economics (ECON) 358

Intermediate Macroeconomics I (Revision 1)

ECON 357 course cover

Delivery Mode: Individualized study online (with eTextbook)

Credits: 3

Area of Study: Social Science. ECON 358 can be used as Applied Studies (Business and Administrative Studies) by credential students only.

Prerequisite: ECON 247 and ECON 248

Faculty: Faculty of Business

ECON 358 has a Challenge for Credit option.

Check availability


This three-credit intermediate economics course uses the tools of macroeconomics to examine macroeconomic policy issues that range from output stability in the short run to unemployment and inflation in the medium run. The IS-LM and AS-AD are the models we typically use to organize our thoughts about the economy. The IS-LM model (sometimes referred to as the Mundell-Fleming model) is used for analyzing the short-run implications of macroeconomic outcomes and policy, while the AS-AD model is used for understanding the medium-run effects. The Phillips curve relation is also examined to help understand the impact of expectation-forming process on policy. There will be times, however, when we will have to refine and extend the model to help us analyze a macroeconomic phenomenon.


The course comprises the following units.

  • Unit 1: Introduction to Macroeconomics
  • Unit 2: The Goods Market
  • Unit 3: Financial Markets
  • Unit 4: The Goods and Financial Markets
  • Unit 5: The IS-LM Model: Adding Openness
  • Unit 6: The Labour Market
  • Unit 7: The AS-AD Model
  • Unit 8: Inflation, Unemployment, and Economic Growth
  • Unit 9: Exchange Rates in the Medium Run


Your final grade is determined by a weighted average of the grades you receive on the following activities. To receive credit for this course, you must achieve a minimum grade of 50 percent on the final examination, and an overall grade of at least D (50 percent) for the entire course.

Activity Weighting
9 Quizzes 30%
Assignment 1 20%
Assignment 2 20%
Final Exam 30%
Total 100%

In response to COVID-19 containment directives, temporary online exam(s) are available for this course.

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Course Materials


Registration in this course includes an electronic textbook. For more information on electronic textbooks, please refer to our eText Initiative site.

Blanchard, O., & Johnson, D. (2015). Macroeconomics (5th Cdn. ed.). Toronto: Pearson Canada Inc. ISBN: 978-0-13216436-8

A print version of the eText may be available for purchase from the publisher through a direct-to-student link provided on the course website; you can also acquire the textbook on your own if you wish.

Other Resources

All other learning resources will be available online.

Challenge for Credit Overview

The Challenge for Credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.

Full information about Challenge for Credit can be found in the Undergraduate Calendar.

Challenge Evaluation

To receive credit for the ECON 357 challenge registration, you must achieve a grade of at least D (50 percent) on the examination.

Paper Exam (3 hours)

Undergraduate Challenge for Credit Course Registration Form

Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized-study counterparts.

Opened in Revision 1, February 3, 2017.