ECON 100 - Introduction to Economics

5 credits

Prerequisites
MATH 097 or placement in MATH& 107 or higher.

This course is designed to introduce economics and the economic approach to the problems created by scarcity. Specifically, the course will be “economics for non-majors: fundamental concepts of economic analysis with application to contemporary problems.” The student should learn what a market system is and how it has come to be the predominate economic system.

Theory Hours
5 theory hours.

AA Specified Elective
Satisfies social science distribution area B requirement or specified elective for the AA degree.

Course Outcomes

Identify the benefits and costs of market trade
Describe the concepts of resources and wants, and relate them to Scarcity and Opportunity Costs
Understand and describe the concepts and measurement of gross domestic product, unemployment, and inflation
Understand and describe the difference between business cycles and economic growth and the factors that contribute to each
Describe the concepts of Comparative Advantage, balance of payments and its components, and the determinants of exchange rates