ECON 110 - Introductory Microeconomics

Credit Hours: 3
Lecture Hours: 3
Laboratory Hours: 0

Prerequisite(s): None

Restriction(s): None

Corequisite(s): None

This course introduces students to the principal concepts and tools of analysis used in traditional and non-orthodox economics. The application of these principles to decision making by consumers, employees, businesses, and government is examined. The underpinnings of the market economy, consumer choice, pricing strategies, and income distribution issues are included. Topics discussed include corporate and union strategy, wealth and poverty, and the principles of taxation and regulation. Key course objectives include building an appreciation of economics as a way of thinking, and recognizing the impact of economic decision making on daily life.

Student Learning Outcomes of the Course:

Show proficiency in understanding and applying the basic axioms/principles of at least one social science to demonstrate the explanatory power of the respective discipline by demonstrating a critical knowledge of its major concepts, models and issues;(knowledge of major concepts, models and issues in at least one discipline)
Demonstrate a critical knowledge of two or more major theories/models of human behavior in one or more of the social sciences. (critical thinking- analyze and evaluate arguments)
Display an appreciation of, and basic competence in, the use of mathematical tools and analyses as these apply to the social sciences.
Exhibit an understanding of the methods used by social scientists, demonstrate an ability to develop a hypothesis related to observable human behavior in at least one discipline, and use data appropriate to the discipline to test a hypothesis. (understanding of data collection, observation, and hypothesis development, interpretive analysis) (critical thinking- develop well-reasoned arguments)