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ECON 105 - Principles of Economics
Course Details

Course Code:
  ECON 105

Credits:  3

Calendar Description:
This course deals with both microeconomics and macroeconomics. Topics include the nature of economics, basic concepts in production, growth, trade, laws of supply and demand, output, costs, various structures of industry. It also deals with the measurement of GDP and the nature of money.

Date First Offered:  2006-05-05

Hours:
  • Total Hours: 45
  • Lecture Hours: 6
Total Weeks:  7.5

This course is offered online:  No

Pre-Requisites:  None

Non-Course Pre-Requisites:  None

Co-Requisites:  None

Rearticulation Submission:  No

Course Content:
  • The Economic Problem
  • Demand
  • Supply
  • Competitive Dynamics & Government
  • Costs of Production
  • Perfect Competition
  • Monopoly and Imperfect Competition
  • Measures of Economic Activity
  • Money
  • Foreign Trade
  • Economic Growth
Learning Outcomes:
At the end of the course, the student will be able to:
  • Define and explain basic economic terms, concepts and principles.
  • Explain to the non-economist the fundamental economic problem of scarcity and choice
  • Specify the relationships between significant economic variables
  • Analyze profit maximization decisions of businesses
  • Critique and use national income statistics
  • Explain the important role money plays in fostering economic development
  • Identify the gains from trade and sources of comparative advantage
  • Examine the relationship between economic growth and the standard of living in Canada
Grading System:  Letters

Passing Grade:  D (50%)

Grading Weight:
  • Final Exam: 40 %
  • Midterm Exam: 20 %
  • Assignments: 30 %
  • Other: 10 %
Number of Assignments:  2

Percentage of Individual Work:  80

Percentage of Group Work:  20

Course Offered in Other Programs:  No
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