Course

Course Summary
Credit Type:
Course
ACE ID:
COPE-0018
Organization's ID:
ECON 201
Organization:
Cope Institute
Location:
Classroom-based
Length:
45 hours (15 sessions)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Principles Of Microeconomics
Description

Objective:

The course objective is to understand the principles of microeconomics and the economic behavior of individual decision-makers, such as consumers, workers, firms, and managers.

Learning Outcomes:

  • Apply microeconomic principles to develop accurate assessments of markets and firms
  • Apply the concepts of scarcity and opportunity cost to decision-making
  • Think opportunistically based on real world economic principles
  • Identify market equilibrium and how it affects the welfare of individuals and companies
  • Identify market failures and understand how economic and social policies affect market equilibrium and welfare outcomes
  • Use the basic terminology of microeconomics
  • Identify changes in supply and demand, as well as their impact on market equilibrium
  • Discuss the elasticity of demand and supply, as well as how they affect choices of individuals, companies and the government
  • Understand how different market structures affect equilibrium and welfare outcomes
  • Contrast the mechanisms of firm pricing and output in a competitive market, monopoly, monopolistic competition, and oligopoly

General Topics:

  • Supply and demand
  • Elasticity
  • Market efficiency
  • How government policies (particularly taxation) impact markets
  • Externalities
  • Costs of production and the firm pricing and output in a competitive market, monopoly
  • Monopolistic competition
  • Oligopoly
Instruction & Assessment

Instructional Strategies:

  • Case Studies
  • Classroom Exercise
  • Discussion
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Written Papers

Minimum Passing Score:

70%
Supplemental Materials