Economics - ECON 103

Course Description

This course is a survey of the macroeconomic concerns of national income determinations, business cycles, unemployment, inflation and both fiscal and monetary policies to stabilize the aggregate economy. In addition, this course explores the microeconomic fundamentals of demand, supply, elasticity, consumer choice, the production costs of output and resource allocation of firms operating under various market structures and the international economy.

Prerequisites

(A requirement that must be completed before taking this course.)

Course Competencies

Upon successful completion of the course, the student should be able to:

• Apply basic concepts of economics.
• Examine national income and its determinants.
• Analyze government fiscal policy in current social and economic programs.
• Explore the concepts of money and banking and how they apply to the macro economy.
• Examine the basic concepts of International Trade and Finance.
• Analyze consumer behavior as it relates to the product and factor markets.
• Analyze producer behavior as it relates to the product and factor markets.
• Identify the basic market structures both in the product and factor markets.
• Apply microeconomic policy to both product and factor markets.

Course Schedule