Document Type

Syllabus

Publication Date

Spring 2024

Course Description

Every day, people are required to make choices. What is worth buying and what is not? Should I even get out of bed today? Why (and how) does the Federal Reserve influence interest rates? Most, if not all, of these choices are influenced by the finite nature of our available resources. This course is an introduction to the fundamental economics ideas that deal with the behaviors of individuals (consumers), households, firms, and government institutions. It involves the study of the market and non-market mechanisms in the allocation of productive resources. The course comprises of topics include the study of supply and demand, competitive market, monopolies, government actions within markets, consumer choice, national income, cost of living, investment, unemployment, inflation, aggregate demand, aggregate supply, and fiscal and monetary policies. In this course, we evaluate decisions faced by individuals, firms, and government institutions. We will assess the world from an economist's perspective, engaging in discussions about choices and policies with considerable attention paid to potential benefits and consequences.

Student Outcomes

Students who successfully complete this course will be able to: 1. Describe economic issues with the proper use of basic concepts. 2. Identify causes of economic issues with relevant principles and models of economics. 3. Apply quantitative reasoning using economic theory.

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