General Information

• Name: Introduction to Economics
• Discipline: Economics (ECON)
• Units (Credits): 3
• Schedule History: See when this course was offered over the last three years.
• Transfer Information: Courses with numbers 100 to 299: This course is designed to apply toward a WNC degree and/or transfer to other schools within the Nevada System of Higher Education, depending on the degree chosen and other courses completed. It may transfer to colleges and universities outside Nevada. For information about how this course can transfer and apply to your program of study, please contact a counselor.
• Academic Division: Social Science, Education, Humanities & Public Service

Prerequisites and Recommended Courses

• Recommended: MATH 095 or higher

Course Outline

I: Catalog Course Description

Offers an introductory overview to supply and demand, the four types of product markets (perfect competition, monopolistic competition, oligopoly and monopoly), operations of markets, consumer and enterprise behavior, price determination. Also covers the measurement of the levels of national income, employment and general prices, and basic causes for fluctuation for these levels.

II: Course Objectives

This course provides, for students who are non-business majors, an introductory overview to: supply and demand, the four types of product markets (perfect competition, monopolistic competition, oligopoly and monopoly), operations of markets, consumer and enterprise behavior, price determination. Also the measurement of the levels of national income, employment and general prices, and basic causes for fluctuation for these levels.

• 1. Describe and discuss the basics of economics: opportunity costs and production curves, supply and demand, public and private sectors.
• 2. Differentiate between the various types of firms and markets in terms of basic theory and issues for product markets.
• 3. Contrast the different product markets in terms of basic theory and issues.
• 4. Explain the major problems of macroeconomics: public sector and national income.
• 5. Illustrate policies of Keynesians, monetarists, and supply-siders to the basic problems of above.
• 6. Discuss financial markets and international trade and finance.
• 7. Find and interpret pertinent data.
• 8. Solve homework problems using underlying mathematical theories.

III: Course Linkage

Linkage of course to educational program mission and at least one educational program outcome.

General Education Learning Outcomes

• Use college-level skills in reading.
• Use appropriate college-level mathematical skills.
• Problem solving, creative, and critical thinking skills.
• Ability to locate and evaluate information.
• Understand and apply social science principles, including an appreciation of participation in civic affairs