ECON 101 - Principles of Economics

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

Prerequisite(s): None.

This is an introductory course dealing with the principles of economics and how they are applied to consumer choices, business decisions, and the domestic economy. Students will examine the role of public and private sectors, markets, market structures, economic indicators, and fiscal and monetary policies as they relate to the American economy. This course is designed for students who are not business or hospitality majors.

Student Learning Outcomes of the Course:

1. 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)
2. 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)
3. Display an appreciation of, and basic competence in, the use of mathematical tools and analyses as these apply to the social sciences.
4. Exhibit an understanding of practical economics as it relates to purchases, savings, taxes and household economics.
5. Analyse how different policies have a disparate impact on different groups of people.