Course Outlines

Microeconomics — ECON 1100

  1. Course Description
    • Credits: 3.00
    • Lecture Hours/Week: 3.00
    • Lab Hours/Week: 0.00
    • OJT Hours/Week: 0
    • Prerequisites: None
    • Corequisites: None
    • MnTC Goals:
      • 05 – Hist/Soc/Behav Sci
    This course is an introduction to: price mechanisms, supply and demand, resource allocation, analysis of market structures, distribution of income, and business decisions with regard to cost analysis. Meets MnTC Goal 5
  2. Course Effective Dates: 6/3/02 – Present
  3. Outline of Major Content Areas
    1. Consumers, Producers, and Efficiency in Markets
    2. Demand and Elasticity
    3. Externalities
    4. Firm Behavior and the Organization of Industry
    5. Firms in Competitive Markets
    6. How Markets Work
    7. International Trade and Comparative Advantage
    8. Market Forces of Supply and Demand
    9. Monopolistic Competition
    10. Monopoly
    11. Oligopoly
    12. Public Goods and Common Resources
    13. Supply, Demand, and Government Policies
    14. Ten principles of Economics
    15. The Costs of Production
    16. The Economics of the Public Sector
    17. The System of Foreign Exchange
    18. The United States in the World Economy
    19. Thinking Like an Economist
  4. Learning Outcomes
    1. Analyze microeconomic problems and policies
    2. Describe the impact of the global market on the U.S
    3. Discuss the economics of firms; how prices and outputs are determined
    4. Explain the concepts of supply and demand, and their application
    5. Outline the different types of industries in the U.S
  5. Minnesota Transfer Curriculum Goal Area(s) and Competencies
      Goal 05 — Hist/Soc/Behav Sci
      1. No Competencies Indicated
  6. Learner Outcomes Assessment
      As noted on course syllabus
  7. Special Information
      None noted