Course Outline - Introduction to Economics | ECN 101, Lab Reports of Economics

Download Course Outline - Introduction to Economics | ECN 101 and more Lab Reports Economics in PDF only on Docsity! COURSE OUTLINE Central Arizona College 8470 N. Overfield Road Coolidge, AZ 85228 Phone: (520) 494-5206 Fax: (520) 494-5212 Prefix/Number: ECN101 Course Title: Introduction to Economics Course Description: Investigates the basic concepts and principles of economics, and how they operate within the American economic system. Highlights both Macroeconomics and Microeconomics in simplified terms, intended for those who will only take one course in economics. Semester Hours: 3 Times for Credit: 1 Lecture/Lab Ratio: 3 Lectures Pre-requisites: RDG100A or RDG100B Co-requisites: None Cross Listed: None Grading Options: A/F Approved Modalities: F2F, Hybrid, ITV , Online, Supplement Learning Outcome Statements: Standards: Central Arizona College ECN101 - Introduction to Economics Page 2 of 3 Upon completion of this course the student will be able to: 1. Define scarcity which results from productive resources being limited. 2. Compare the additional costs of alternatives with additional benefits. 3. Identify different methods used to allocate goods and services. 4. Demonstrate an understanding of voluntary exchange. 5. Describe the functions of money. 6. Describe how interest rates are adjusted for inflation and the affect of allocation of resources. 7. Demonstrate market value and it's effect on worker's earnings. 8. Explain the concept of entrepreneurship. 9. Describe the economic role of government in a market economy. 10. Demonstrate the impact of investment on standards of living. 11. Describe the interaction of spending and production on a nation's level of income. 12. Outline cause and effect of inflation and unemployment on the economy. 13. Describe how federal government fiscal and monetary policies influence employment, output and prices. 14. Compare and contrast individual, regional, and national production and consumption. 15. Describe market existence when buyers and sellers interact. 16. Describe how prices send signals and provide incentives to buyers and sellers. 17. Explain the impact of competition among sellers/buyers. 18. List the ways that costs of government policies sometimes exceed benefits. 19. Evaluate the US Balance of trade. The student will meet the learning outcomes at the following level, degree or measurement: Students will successfully complete four group projects throughout the semester that incorporates the review and group discussion in online group forum based on a set of pre- determined questions. Students review current publications and issues in the national economy then they develop group forum answers that are compiled by a student leader into a final response. All student learning outcomes from the course are addressed in this format. Learning outcomes are addressed through pre- and post-test nationally standardized assessment. The exam is split between Micro- and Macro- Economics for College level Economics and is presented Multiple Choice format. This information is used to guide questions and project development and to assess student learning throughout the semester.