Course Details
Course Code: ECON 101
Credits: 3
Calendar Description:
This course examines the way that a mixed market economy allocates and distributes scarce resources. Specific topics include the theory of consumer behaviour, market structure, production, production cost, price determination, allocation of resources, and the economics of income distribution.
Date First Offered: 2006-09-01
Hours:
- Total Hours: 45
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Lecture Hours: 45
Total Weeks: 15
This course is offered online: No
Pre-Requisites: None
Non-Course Pre-Requisites: None
Co-Requisites: None
Rearticulation Submission: No
Course Content:
What is Economics?
The Economic Problem
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Demand and Supply
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Elasticity
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Efficiency and Equity
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Markets in Action
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Utility and Demand
- OrganizingProduction
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Output and Costs
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Perfect Competition
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Monopoly
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Monopolistic Competition and Oligopoly
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Demand and Supply in Factor Markets
Learning Outcomes:
Upon successful completion of the course, the students will be able to:
- Define and explain basic economic terms, concepts and principles
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Explain the types of choices required because of the problem of scarcity
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Use graphs to demonstrate relationships between economic variables
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Explain how firms make production and pricing decisions
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Compare and contrast various Market Structures
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Explain resource allocation in the market economy
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Use the economic way of thinking to make real life decisions
Passing Grade: D (50%)
Grading Weight:
- Final Exam: 20 %
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Midterm Exam: 20 %
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Quizzes and Tests: 10 %
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Assignments: 20 %
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Participation: 10 %
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Practicum: 20 %
Number of Assignments: 3
Nature of Participation:
- Attendance
- Class room discussions
Percentage of Individual Work: 80
Percentage of Group Work: 20
Course Offered in Other Programs: Yes
Other Programs:
- Elementary Education
- Pre-Medicine
- Social Sciences
- Associate of Arts Diploma - Fine Arts
- Associate of Arts Degree
- Associate of Arts Degree - Criminology Specialization
Additional Comments:
- Assignments are mandatory and must be handed in on the specified due date.
- Work handed in late may lose marks for each day delayed. Exceptions may be made for documented medical reasons or extenuating circumstances.
- Cheating and plagiarism policy as outlined in the current College Calendar will be enforced.
Keys to Success:
- Please read the relevant chapter sections and complete assignments as per deadlines.
- Attendance and class participation are critical.
- Take advantage of instructor office hours for additional assistance.