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Economics

Course Number: 10-809-195
Credits: 3
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Course Information

Description: 10-809-195 ECONOMICS This course is designed to give an overview of how a market-oriented economic system operates, and it surveys the factors which influence national economic policy. Basic concepts and analyses are illustrated by reference to a variety of contemporary problems and public policy issues. Concepts include scarcity, resources, alternative economic systems, growth, supply and demand, monetary and fiscal policy, inflation, unemployment and global economic issues. (Prerequisite: Next Gen Rdg score greater/equal to 250 AND Writing score greater/equal to 237; OR ACT Rdg score greater/equal to 16 AND English greater/equal to 15; OR 10-831-107, College Reading and Writing with a B or better)
Total Credits: 3

Course Competencies

  1. Develop a rationale for economic systems
  2. Compare alternative economic systems
  3. Use marginal (Cost-Benefit) analysis in decision-making
  4. Apply supply and demand analysis to price determination
  5. Assess the role price plays in a market economy
  6. Examine market failures within a capitalistic system
  7. Differentiate market structures in product markets
  8. Relate factor markets to production
  9. Assess causes and consequences of changes in output, employment, and prices due to fluctuations in the level of economic activity
  10. Assess macroeconomic stabilization policies
  11. Evaluate government's role in an economic system
  12. Assess the impact of the globalization of economies
  13. Assess the effect of economics on contemporary public issues

Course details are from the 2021-2022 academic year and are subject to change after 5/23/2022.