Course

Credit Type:
Course
ACE ID:
SOPH-0011
Version:
3
Organization's ID:
ECON1002
Organization:
SOPHIA Learning, LLC
Location:
Online
Length:
Self-paced. Students have 60 days with a 30 day extension (if needed) to complete the course
Minimum Passing Score:
70
ACE Credit Recommendation Period:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Principles Of Microeconomics or Introduction to Microeconomics
Description

Objective:

The course objective is to explore and interpret the behavior of individual consumers and firms in the marketplace. Through this exploration, students will learn how to evaluate decisions, both public and private, with an eye towards production, consumption and transfer of wealth. Students will also learn how to apply conceptual principles of microeconomics in practical ways to everyday life.

Learning Outcomes:

  • Interpret market interactions: consumer and firm
  • Describe economics
  • Examine the consumer
  • Analyze the firm

General Topics:

  • Overview of economics
  • Rational consumers and firms
  • Supply and demand
  • Types of goods
  • Consumer theory
  • Demand sensitivities
  • Elasticity
  • Market environment
  • Production decisions
  • Revenue and costs
  • Profit maximization
  • Supply function
  • Public policy analysis
  • Comparative economic systems
  • Public vs. private and the 'tragedy of the commons
  • ' data usage limitations
  • Labor economics
  • Environmental economics
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Case Studies
  • Computer Based Training
  • Lectures
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes
Supplemental Materials
Equivalencies

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