ECON 131 - Principles of Economics KCC AA/DS,KCC AS/SS

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture, 1 hour lab per week Prerequisite(s): ECON 130; MATH 25; qualification for ENG 100. Comment: Students will complete one hour lab outside of class time. ECON 131 focuses on macroeconomics with emphasis on modern theory of income determination indicating how and why income, production, employment and price levels fluctuate; on the structure of the banking system and its role in the economy; and on public policy questions arising from changes in these aggregates. Emphasis will be placed on writing, problem-solving, critical thinking and abstract reasoning. Student must fulfill one hour of lab work per week. Upon successful completion of ECON 131, the student should be able to: Demonstrate how the American Economic System works. Describe the tools of classical, Keynesian, and macroeconomics analysis, e.g. demand and supply, the consumption function, the multiplier effect, the quantity theory of money, and the accelerator effect, all of which analyze the change in and determination of national income. Explain government fiscal and Federal Reserve policies and apply these to current economic events. Explain other economic topics, such as economic forecasting and government taxation.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Multiple

Notes:

Additional Information:

Historical Version(s):

Institution Website:

kapiolani.hawaii.edu/page/home

Phone Number:

(808) 734-9000

Regional Accreditation:

Western Association of Schools and Colleges

Calendar System:

Semester

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