ECON 100 - Introduction to Economics

Credits: 3

Description
This course is intended for students with no prior background in business or economics. It is study of basic macroeconomics, microeconomics, and international economics principles, as well as current global economic and social issues. The course introduces the student to basic economic concepts and applications emphasizing the economic way of thinking. The student will, therefore, relate principles such as scarcity, opportunity cost, and cost-benefit analyses to everyday real world economic situations.

Student Learning Outcomes

Use economic way of thinking (EWOT) and critical thinking to illuminate, understand, and illustrate real world economics issues, both within the U.S. and globally.
Appreciate the fundamental economic concepts and techniques as they relate to the economic decision making process.
Familiarize the non-business and non-economics student with the workings of our contemporary economy.
Understand and demonstrate knowledge of scarcity, opportunity cost, and rational choice.
Understand demonstrate knowledge of the three central coordination problems of an economy and the various types of economic system.
Understand and demonstrate knowledge of consumer decision making.
Understand and demonstrate knowledge of the role of government in the market economy and why nations trade.
Understand and demonstrate knowledge of the business cycle, unemployment, and inflation.
Understand and demonstrate knowledge of fiscal, monetary, and international financial policy.
Understand and demonstrate knowledge of microeconomics and macroeconomics issues and consequences within the context of the global economy and EWOT.

Prerequisite: None