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:
- Total Hours: 45
Lecture Hours: 45
This course is offered online:
What is Economics?
The Economic Problem
Demand and Supply
Efficiency and Equity
Markets in Action
Utility and Demand
Output and Costs
Monopolistic Competition and Oligopoly
Demand and Supply in Factor Markets
Upon successful completion of the course, the students will be able to:
- Define and explain basic economic terms, concepts and principles
Explain the types of choices required because of the problem of scarcity
Use graphs to demonstrate relationships between economic variables
Explain how firms make production and pricing decisions
Compare and contrast various Market Structures
Explain resource allocation in the market economy
Use the economic way of thinking to make real life decisions
Number of Assignments:
- Final Exam: 20 %
Midterm Exam: 20 %
Quizzes and Tests: 10 %
Assignments: 20 %
Participation: 10 %
Practicum: 20 %
Nature of Participation:
Percentage of Individual Work:
- Class room discussions
Percentage of Group Work:
Course Offered in Other Programs:
- Elementary Education
- Social Sciences
- Associate of Arts Diploma - Fine Arts
- Associate of Arts Degree
- Associate of Arts Degree - Criminology Specialization
Keys to Success:
- 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.
- 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.