Skip to main content
Photo of a student studying in a library

Course Description

Schoolcraft is excited to offer traditional credit face-to-face, hybrid, online, and remote classes for Fall 2020 while providing students a safe experience based on recent COVID-19 concerns.

Please see the COVID-19 web page to learn more. Keep checking the schedule for additions on our New, Added, and Late Starting Courses web page.

Economics - ECON 103

Introductory Economics

3 Credit Hours
3 Lecture Hours

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.)

  • MATH 47 or a minimum score of 19 ACT-Math, 25 SAT-Math, 75 CPT-Arithmetic, 28 CPT-Elementary Algebra, 260 NGA-Arithmetic or 230 NGA-Quantitative Reasoning, Algebra and Statistics.

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

 CourseSectionCourse TitleLocationCredit HoursInstructorsSeats Available ⁄Capacity ⁄WaitlistStatusFeeDays-Time-Room

Fall; 2020; ECONOMICS; No of Weeks : 15; Begins : 08/31/2020

 103141200Intro EconomicsRMT3Winston G12/24/0Open$12.00T R  09:00 AM-10:20 AM WEBWEB

Winter; 2021; ECONOMICS; No of Weeks : 15; Begins : 01/11/2021

 103111222Intro EconomicsRMT3Winston G23/31/0Open$12.00T R  03:00 PM-04:24 PM WEBWEB

Key: Day of the Week

  • T = Tuesday
  • R = Thursday
  • S = Saturday
  • X = Sunday