ECON 1150 - Essentials of Economics

Institution:

Minnesota State Community and Technical College

Subject:

Description:

Meets MNTC Goal Areas 2 and 5. This course is an introductory study of economics and exposes the student to a variety of economic concepts. In order to enjoy a successful career, people need to understand how economics impacts the environment in which they live and work. This course helps satisfy those needs by exploring the principles of microeconomics, macroeconomics and international economics. At the microeconomic level, students will learn how the choices they make effect particular markets. They will examine resource allocation and pricing structure through analyzing demand and supply applications. Students will survey the competitive environment by exploring the market structures of perfect competition, monopolistic competition, monopoly, and oligopoly. At the macroeconomic level, students will learn about the business cycle by analyzing the GDP, the inflation rate, the unemployment rate, deficit spending, the national debt, and other economic indicators. They will also investigate the debate over activism and non-activism in monetary and fiscal policies. Finally, the student will examine international issues including tariffs/quotas, foreign exchange, the concept of comparative advantage, and trends in globalization. This course is not intended for business or economic majors.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.minnesota.edu

Phone Number:

(218) 736-1500

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

The Course Profile information is provided and updated by third parties including the respective institutions. While the institutions are able to update their information at any time, the information is not independently validated, and no party associated with this website can accept responsibility for its accuracy.