B.C.'s Energy College


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ECON 105 - Principles of Economics

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.

 

Credits:  3

 

Hours: 45 (Lecture Hours: 6)

 

Total Weeks:  7.5

 

Prerequisites: 
None

 

Non-Course Prerequisites: 

None

 

Co-Requisites: 

None

 

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%)

 

Percentage of Individual Work:  80

 

Percentage of Group Work:  20

 

Textbooks:
Textbooks are subject to change.  Please contact the bookstore at your local campus for current book lists.

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