- Name: Introduction to Economics
- Discipline: Economics
- Units (Credits): 3
- 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: Career and Technical Education
- Recommended Prerequisites: MATH095 or higher
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.
- Describe and discuss the basics of economics: opportunity costs and production curves, supply and demand, public and private sectors.
- Differentiate between the various types of firms and markets in terms of basic theory and issues for product markets.
- Contrast the different product markets in terms of basic theory and issues.
- Explain the major problems of macroeconomics: public sector and national income.
- Illustrate policies of Keynesians, monetarists, and supply-siders to the basic problems of above.
- Discuss financial markets and international trade and finance.
- Find and interpret pertinent data.
- Solve homework problems using underlying mathematical theories.
III: Course Linkage
This course addresses the following Student Learning Objectives of the General Education Mission by ensuring that successful students:
- Are able to demonstrate college level reading, writing, and oral communication skills.
- Possess adequate problem solving, creative reasoning, and critical thinking skills.
- Can engage in meaningful self assessments and work effectively with others.
- Utilize effective and efficient learning skills, including locating and evaluating sources of information.
- Have knowledge of the subject matter to a level that is appropriate to the emphasis of their degree.
- Develop and improve their creative abilities.
- Appreciate the need for continuing education and lifelong learning.
- Will succeed at transfer institutions.