ECON 120 - Introduction to Economics KCC AA/ DS, KCC AS

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture per week Prerequisite(s): Qualification for MATH 24; qualification for ENG 100. ECON 120 focuses on general understanding of the functions of economic systems, including various approaches to the organization of production and allocation of resources, and of policies to achieve national economic goals; these include the determination of national income, inflation, recession, unemployment, taxation, labor unions, environmental pollution, energy, and economic growth. Upon successful completion of ECON 120, the student should be able to: Explain how the American Economic System works, including organization of production and the allocation of resources. Explain how American Economic Policies are used to achieve national economic goals. Specify tools of macroeconomic analysis in determining the level of national income and apply these tools to such problems as unemployment, recession, and inflation. 0 Analyze current events, government fiscal policies, and Federal Reserve policies using macroeconomic tools. Specify tools of microeconomic analysis, e.g. demand and supply, diminishing returns, price and income elasticity, cost-benefit analysis, and externalities, and apply these tools to such economic problems as energy, environmental pollution, market power of business and labor, the world food problem, and poverty.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

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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