Introduction to Economics



Upon completion of this course, the student will be able to:

  • Analyze the economic way of thinking
  • Explain how free and competitive markets allocate resources efficiently through the interaction of supply and demand
  • Evaluate the different effects caused by changes in demand and supply conditions
  • Analyze how government actions affect markets
  • Evaluate the effects of trade on the economy
  • Analyze the effects of externalities
  • Analyze a firm’s cost of production
  • Analyze firm behavior in perfectly competitive markets
  • Differentiate between monopoly, monopolistic competition, and oligopoly
  • Measure components of the macroeconomy
  • Analyze the factors influencing economic growth
  • Contrast fiscal and monetary policy
  • This class includes the following eText:

Bade and Parkin, Essential Foundations of Economics; 6th Edition (2013); ISBN: 0132833115