Overview of the basic principles of the American Economy to include supply and demand, money and banking, international trade, GDP, inflation, unemployment, and analysis of the market system. THIS IS NOT A SUBSTITUTE FOR ECONK 201 or ECONK 202.
Prerequisites
Quarters Offered
Fall,
Winter,
Spring
Course Outcomes
Upon successful completion of the course, students should be able to demonstrate the following knowledge or skills:
- Explain the basic problem facing all economic systems.
- Construct and explain a graph.
- Apply the terminology learned appropriately in a spoken and written manner.
- Discuss the similarities and differences of the various economic systems.
- Fully appreciate why our world is a global economy.
- Apply the economic concepts to everyday life.
Institutional Outcomes
IO2 Quantitative Reasoning: Students will be able to reason mathematically
Course Content Outline
- Scarcity and Choice
- Unemployment
- Demand and Supply
- Poverty and Income Distribution
- Price Elasticity
- Global Trade and Finance
- Costs of Production
- Current Economic Problems
- Imperfect Competition
- Labor Markets
- Measuring Economic Activity (GDP)
- Government Finance and Fiscal Policy
- Banking and Monetary Policy
- Inflation
Department Guidelines
The class syllabus must contain course learning outcomes, class environment/expectations/rules, evaluation/grading guidelines, and a disability services statement. A class schedule must be provided to students that contains content covered (text chapters, topics, etc.) and tentative test dates (to include final date/time). These documents should be reviewed with the ACCT/BUS Faculty at least one week prior to class start. If an LMS or software is used for the course, it must be approved by the ACCT/BUS Faculty.