Course Course Summary Section 1 Content Section 1 Content Left Section 1 Content Right Credit Type: Course ACE ID: SAYA-0005 Organization's ID: ECON101 Organization: Saylor Academy Location: Online Length: 63 hours, self-paced Dates Offered: 2/1/2024 - 1/31/2027 1/1/2021 - 1/31/2024 1/1/2016 - 12/31/2019 Credit Recommendation & Competencies Section 2 Content Section 2 Content Left Section 2 Content Right Level Credits (SH) Subject Lower-Division Baccalaureate 3 principles of microeconomics Description Section 3 Content Section 3 Content Left Section 3 Content Right Objective: The course objective is to provide a basic understanding of microeconomic principles, and analyzes the economic factors influencing decisions made at the individual level, after evaluating resources, costs, and tradeoffs. Learning Outcomes: explain the basic assumptions in economic thinking to show how individual economic agents make rational choices for optimizing the use of scarce resources analyze the factors that affect market demand and market supply, and illustrate their interaction for achieving equilibrium in price and quantity explain how consumers make rational choices using the concept of utility, including the principle of diminishing marginal utIlity apply economic models in public finance, public choice, and for solving environmental issues explain the basic assumptions in economic thinking to show how individual economic agents make rational choices for optimizing the use of scarce resources analyze the factors that affect market demand and market supply, and illustrate their interaction for achieving equilibrium in price and quantity explain the maximization principle in economics and the tools of government intervention for solving market failure when there are problems in the efficient allocation of resources analyze how the producer applies the marginal decision rule to maximize profit in producing goods or services when combining factors of production—labor, capital, and natural resources—in both the short-run and long-run illustrate the interaction of market demand and market supply in the various perfectly competitive markets, non-competitive markets, and imperfectly competitive markets explain the economics of the environment, especially by applying economic tools for moving the economy towards an efficient level of environmental pollution General Topics: Introduction to economics Supply and demand Markets and individual maximizing behavior The consumer The producer Market structure: competitive and non-competitive markets Public finance, public choice, and the environment Instruction & Assessment Section 4 Content Section 4 Content Left Section 4 Content Right Instructional Strategies: Audio Visual Materials Lectures Practical Exercises Methods of Assessment: Examinations Quizzes Minimum Passing Score: 70% Supplemental Materials Section 5 Content Section 5 Content Left Section 5 Content Right Section 6 Content Section 6 Content Left Section 6 Content Right Button Content Rail Content 1 Other offerings from Saylor Academy ARTH101: Art Appreciation (SAYA-0036) BIO101: Introduction to Molecular and Cellular Biology (SAYA-0019) BUS101: Introduction to Business (SAYA-0020) BUS103: Introduction to Financial Accounting (SAYA-0021) BUS105: Managerial Accounting (SAYA-0009) BUS200: Business Ethics (SAYA-0047) BUS202: Principles of Finance (SAYA-0022) BUS203: Principles of Marketing (SAYA-0023) BUS204: Business Statistics (SAYA-0037) BUS205: Business Law (SAYA-0024) View All Courses Page Content