Course Summary
Credit Type:
14 weeks (75 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Microeconomics


The course objective is to teach the principles of microeconomics. Microeconomics is the analysis of the manner in which markets resolve the problem posed by the reality of scarce resources. A model of efficiency is constructed and is analyzed through the topics of demand, supply, production, distribution, consumer choice, the behavior of the firm, and market structure. A consideration of market failures and the role of government in a market-driven society completes the analysis.

Learning Outcomes:

  • identify and apply relevant terminology and concepts to economic issues and problems
  • compare and contrast the market system of economics with other systems
  • analyze and synthesize the public and private sectors of the US economy
  • use demand and supply models in the analysis of real-world issues
  • use the theory of consumer choice to explain and to predict consumer behavior
  • use market structure models to explain and to predict business firm behavior
  • explain the basis for and the benefits of trade

General Topics:

  • Limits, alternatives, and choices
  • The market system and circular flow
  • Demand, supply, and market equilibrium
  • The US economy: private and public sectors
  • The United States in the global economy
  • Extended demand and supply analysis
  • Consumer behavior and utility maximization
  • The costs of production
  • Pure competition, pure monopoly, monopolistic competition, and oligopoly
  • Technology, research and development, and efficiency
  • The demand for resources
  • Wage determination
  • Rent, interest, and profit: government and market failure
  • Public choice theory and the economics of taxation
  • Antitrust policy and regulation
  • Agriculture: economics and policy
  • Income inequality and poverty
  • The economics of health care
  • Labor market institutions and issues
  • International trade exchange rates, the balance of payments, and trade deficits
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

Supplemental Materials

Other offerings from StraighterLine