Online Microeconomics Course Community College

Upon effective completion of this course, the student should have the ability to describe standard macrofinancial and also microeconomic theory, fiscal and also financial policies, the duty and significance of international business economics and also government trade and also regulatory policies. In enhancement, the student need to be able to describe the qualities and after-effects of the differing business devices in the economic situation, as well as the functioning of the labor sector and how nationwide income is distributed. The course is primarily for students that desire a one-semester, nontechnological overcheck out of the standard components of macrofinancial and also microfinancial theory and also the functioning of the United States economic situation.

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ECON 132H   HON: Survey of Economics (1 Hour)

One-crmodify hour honors contract is accessible to qualified students that have an interemainder in a more thounstable investigation of a topic pertained to this subject. An honors contract may incorporate research study, a record, or project and also includes individual meetings through a faculty mentor. Student must be currently enrolled in the continual section of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for even more indevelopment. Prerequsite: Honors department approval.


ECON 230   Principles of Macroeconomics (3 Hours)

Upon effective completion of this course, the student have to be able to usage economic terminology and values to define and also comment on fundamental macrofinancial principles, including supply of and also demand also for assets, national earnings determination, money and banking, and also financial and also fiscal plan. The student enrolling in this course have to have actually effectively completed one year of high school algebra or the identical.


ECON 230H   HON: Principles of Macroeconomics (1 Hour)

One-credit hour honors contract is available to qualified students who have actually an interemainder in an extra thounstable examination of a topic regarded this subject. An honors contract may incorpoprice study, a paper, or project and has individual meetings with a faculty mentor. Student should be presently enrolled in the consistent area of the courses or have completed it the previous semester. Contact the Honors Program Office, COM 201, for even more information. Prerequsite: Honors department approval.


ECON 231   Principles of Microbusiness economics (3 Hours)

Upon effective completion of this course, the student must be able to usage economic terminology and also ethics to define and talk about standard microeconomic ideas, including a prolonged evaluation of product supply and also demand also, theories of the firm, and also product and also resource market frameworks. Students enrolling in this course need to have effectively completed one year of high college algebra or the indistinguishable.


ECON 231H   HON: Principles of Microeconomics (1 Hour)

One-crmodify hour honors contract is obtainable to qualified students who have an interest in a much more thorough examination of a topic related to this topic. An honors contract may incorpoprice research study, a document, or task and also includes individual meetings through a faculty mentor. Student have to be currently enrolled in the regular section of the courses or have actually completed it the previous semester. Contact the Honors Program Office, COM 201, for even more indevelopment. Prerequsite: Honors department approval.


ECON 132Title: Survey of EconomicsNumber: ECON 132Effective Term: 2021-22Crmodify Hours: 3Contact Hours: 3Lecture Hours: 3

Description:

Upon successful completion of this course, the student need to be able to explain standard macrofinancial and also microeconomic theory, fiscal and monetary policies, the role and significance of global business economics and federal government profession and regulatory policies. In enhancement, the student need to be able to describe the features and after-effects of the differing business systems in the economy, and also the functioning of the labor sector and also how nationwide income is dispersed. The course is mainly for students that desire a one-semester, nontechnological overcheck out of the fundamental components of macrofinancial and also microeconomic theory and the functioning of the USA economy.


Textbooks:

http://bookstore.fairtradeexpo.org.edu/

Supplies:

Refer to the instructor"s course syllabus for details about any kind of supplies that may be compelled.

Objectives

Demonstrate an knowledge of how financial task is determined in a capitalist, market-oriented economic climate.Explain exactly how and why laissez-faire capitalism in the USA has actually been modified by federal government involvement.Describe the ingredients for greater rates of financial growth and higher criteria of living within a country.Describe supply and demand evaluation and marginal evaluation to identify how prices and also output are established under various industry frameworks.Describe the causes of the service cycle, its result on unemployment and inflation, and also possible remedies.Explain just how the government attempts to stabilize the economy through the usage of fiscal plan.Exordinary exactly how the United States banking device operates.Explain just how the Federal Reserve System attempts to stabilize the economy via the usage of financial plan.Exordinary the prestige of global profession to an economy and the results of protective trade plans. 

Content Overview and Competencies:

I. Basic Economic Concepts A. Define financial systems. 1. Describe the basic financial concerns. 2. Contrast capitalism and also socialism. B. Summarize the methodology of business economics. 1. Describe what economists carry out. 2. Describe the theorizing or model-building process. 3. Demonstprice the usage of graphs. 4. Summarize the function of statistics and also the use of economicstatistics in economic analysis. C. Define scarcity. 1. Summarize the tradeoffs within an economic situation and also specify thechance expense of making an option. 2. Describe the Production Possibilities Model. D. Exsimple how markets function making use of supply and also demand analysis. 1. Describe the Circular Flow of Income design. 2. Define the laws of demand and also supply. 3. Explain the determinants of demand also and also supply. 4. Summary the results of transforms in demand and supply on prices andthe amount traded in any kind of market. E. Evaluate capitalism. 1. List and define the pros and cons linked via capitalism. 2. List and also describe the sector failures linked through capitalismand describe governpsychological attempts to correct them.II. Microeconomics A. Describe customer concept. 1. Define elasticity. 2. Define marginal energy and also describe its duty in effectingconsumer behavior. B. Describe the theory of the firm. 1. Synopsis legal forms of business. 2. Describe the economic attributes of the firm. 3. Define diminishing retransforms and manufacturing costs. 4. Overview the qualities of the 4 market structures. 5. Describe the habits of the profit maximizing firm within purecompetition, pure monopoly, oligopoly and monopolistic competition. 6. Summarize the effects of firm behavior under various marketstructures. C. Summarize the role of government in regulating service. 1. Summarize anti-trust regulation. 2. Define herbal monopolies. 3. Rundown consumer security plans. 4. Describe environmental security policies. 5. Summarize deregulation plans. D. Describe labor industry. 1. Demonstrate the usage of demand and supply analysis on the contextof a labor market. 2. Describe exactly how wperiods are figured out in labor sectors. 3. Summarize the impacts of labor unions in labor markets. E. Describe how earnings is dispersed. 1. List the sources of earnings. 2. Summarize cause of poverty and also possible remedies. 3. Define discrimicountry.III. Macrobusiness economics A. Describe national economic difficulties. 1. Define the different types of joblessness. 2. Define the different types of inflation. 3. Define economic expansion and list the ingredients for economicexpansion. B. Describe national income accountancy. 1. List the components of GDP. 2. Contrast real GDP and also nominal GDP. 3. Outline the components of nationwide earnings. C. Contrast Classical and Keynesian viewpoints to the business cycle. 1. Describe Say"s Law. 2. Describe accumulation demand also and also supply analysis in national incomedetermicountry. 3. Summarize supply-side viewpoints to addressing national economicproblems. D. Describe fiscal plan. 1. Summarize Keynesian fiscal policy references when addressingnational economic problems. 2. Overview alternate references to the Keynesian approachas soon as addressing nationwide economic problems. 3. Contrast deficits and nationwide debt. E. Monetary plan 1. Define the functions of money. 2. Summarize the duty of commercial financial institutions in money production. 3. Describe the structure and the attributes of the Federal ReserveSystem. 4. Define financial policy. 5. Contrast Keynesian and Monetarist referrals for the usage offinancial plan.IV. Internationwide Economics A. Describe international trade. 1. Summarize the role of specialization and also comparative advantage inworldwide trade. 2. List and explain protectionist plans. 3. Synopsis the function of profession negotiations in international trade. B. Describe international finance. 1. Identify the role of exchange price determicountry in internationalfinance. 2. Describe the balance of payments for a country. 3. Define the gold traditional. 4. Contrast floating and also fixed exreadjust rates.

Method of Evaluation and also Competencies:

Minimum of 4 tests 60-80% of course gradeWritten and/or dental reports 10-20% of course gradeWorksheets, difficulties, attendance, and so on 10-20% of course grade 100%The student"s course grade will be figured out utilizing the following gradingscale: A = 90-100% of complete obtainable points B = 80- 89% of complete accessible points C = 70- 79% of total available points D = 60- 69% of complete easily accessible points F =

Disabilities:

fairtradeexpo.org offers a variety of services to permit persons through disabilities to get involved in educational programs and activities. If you are a student through a discapability and also if you are in need of accommodations or services, it is your responsibility to call Access Services and make a formal request. To schedule an appointment via an Access Advisor or for added indevelopment, you may sfinish an e-mail or speak to Access Services at (913)469-3521. Access Services is located on the second floor of the Student Center (SC 202).


ECON 230Title: Principles of MacroeconomicsNumber: ECON 230Effective Term: 2021-22Crmodify Hours: 3Contact Hours: 3Lecture Hours: 3

Description:

Upon effective completion of this course, the student have to have the ability to usage financial terminology and also values to explain and discuss fundamental macrofinancial ideas, consisting of supply of and also demand for products, national earnings determicountry, money and banking, and also financial and fiscal policy. The student enrolling in this course need to have successfully completed one year of high college algebra or the indistinguishable.


Supplies:

Refer to the instructor"s course syllabus for details about any type of supplies that may be required.

Objectives

Exordinary the financial means of thinking by using the following: scarcity, field of expertise, opportunity cost, marginal evaluation and production possibility.Apply the supply and also demand also design for financial analysis.Define the crucial macroeconomic indicators supplied to measure the performance of the aggregate economic climate including output, price level and also employment.Utilize the accumulation demand and also aggregate supply model to describe the amount of products and solutions developed, the level of unemployment and also price level.Define fiscal policy, budobtain deficits and the national debt, and also explain their affect on the macro economy.Define money, banking and monetary plan, and also explain their influence on the macro economic situation.

Content Rundown and Competencies:

I. Basic Economic Concepts

A. Define economics and also describe what economic experts do.

B. Contrast positive from normative economics.

C. Contrast macroeconomics and microbusiness economics.

D. List economic resources and define why they are scarce.

E. Define opportunity price, scarcity, fertile and also allocative performance, and also economic expansion, and show these concepts in the context of the Production Possibilities Model.

F. List the ingredients for financial expansion.

G. Describe the circular flow version of financial activity.

H. Demonstrate the usage of demand and also supply evaluation in equilibrium price and quantity determicountry in any industry.

1. Define demand and also derive a demand curve.

2. Describe what reasons a boost and also a decrease in demand and also express this graphically.

3. Define supply and derive a supply curve.

4. Describe what reasons a boost and also decrease in supply and also expush this graphically.

5. Graphically recognize the equilibrium price and quantity within a sector and define why this price and quantity traded is equilibrium.

6. Illustprice graphically a surplus and also a shortage and predict the influence of a excess and also a shortage on the price within a sector.

7. Graphically highlight and also predict the impact of a adjust in demand or a adjust in supply on the equilibrium price and also quantity within a sector.

8. Apply demand and supply evaluation to product, reresource and loanable funds sectors.

I. Exordinary the partnership between the product, resource and loanable funds sectors.

J. Evaluate the pros and cons connected via capitalism"s market-oriented economic climate.

K. Summarize just how government has attempted to address the industry failures associated via capitalism.

II. The Caprovides and Consequences Associated through the Business Cycle

A. Define and contrast gross domestic product (GDP), net nationwide product (NNP), nationwide earnings (NI), personal earnings (PI) and also disposable revenue (DI).

B. Define the different kinds of unemployment:

1. Frictional (transitional) unemployment

2. Structural unemployment

3. Cyclical unemployment

C. Define the various kinds of inflation:

1. Demand-pull inflation

2. Cost-press inflation

D. Define the service cycle and also define its different phases (top, contractivity, trough and expansion).

E. Contrast the fundamental explanations for causes of the company cycle according to the Keynesian and also New Classical schools of thought.

F. Describe the cause-impact chain partnership via which a change in total spfinishing (aggregate demand, aggregate expenditures) affects inventories, GDP, employment and also nationwide income, as well as inflation over the course of the company cycle, according to Keynesians.

G. Graphically show a intake feature and explain what reasons shifts in the usage function.

H. Graphically show an investment attribute and also describe what reasons transforms in the investment feature.

I. Graphically highlight an equilibrium national revenue level and also just how it may change.

J. Calculate the basic Keynesian multiplier and explain its role and its relevance in calculating alters in nationwide income.

III. Fiscal Policy

A. Define discretionary fiscal plan and explain exactly how it is imposed.

B. Summarize discretionary fiscal policy choices thought about correct by Keynesians over the course of the company cycle.

C. Define non-discretionary fiscal plan and explain how it is implemented.

D. Demonstprice graphically non-discretionary fiscal plan and also explain exactly how it adds stcapacity to the company cycle.

E. Evaluate the use of fiscal plan from the Keynesian and New Classical perspectives.

F. Contrast a fiscal deficit from public debt.

G. Analyze the consequences of nationwide debt for a nation.

IV. Monetary Policy

A. Define money and the money supply.

B. Explain just how a single financial institution deserve to readjust the money supply.

C. Exsimple exactly how an entire banking system can change the money supply.

D. Calculate a basic money multiplier and define its role in a changing money supply.

E. Exordinary the institutional framework of the Federal Reserve System.

F. Define monetary policy and describe just how it is implemented.

G. Describe the tools of monetary policy and what is considered to be its correct usage from a Keynesian and also New Classical perspective.

H. Evaluate the performance of monetary plan from a Keynesian perspective.

V. Internationwide Economics

A. Define and also comparison absolute and comparative advantage and explain which is appropriate for global trade.

B. Describe the benefits and also prices to a country of cost-free and open up international profession.

C. Exordinary why the majority of economists are totally free profession proponents.

D. List and also specify the miscellaneous kinds of global trade obstacles.

E. Summarize and also evaluate the disagreements for and versus protectionism.

F. Evaluate a addressed and also floating exadjust rate device.

G. Exordinary the influence of a change in a nation"s exchange price on its flow of exports and imports.

H. Describe a nation"s balance of payments.


Method of Evaluation and Competencies:

70-85% Minimum of 3 tests15-30% Other assignments

Total 100%


Disabilities:

fairtradeexpo.org offers a range of solutions to permit persons via disabilities to get involved in educational programs and tasks. If you are a student through a discapacity and if you are in need of accommodations or solutions, it is your obligation to contact Access Services and make a formal research. To schedule an appointment via an Access Advisor or for additional information, you might send an email or call Access Services at (913)469-3521. Access Services is located on the 2nd floor of the Student Center (SC 202).


ECON 231Title: Principles of MicroeconomicsNumber: ECON 231Effective Term: 2021-22Crmodify Hours: 3Contact Hours: 3Lecture Hours: 3

Description:

Upon successful completion of this course, the student have to have the ability to usage financial terminology and principles to describe and also discuss fundamental microeconomic principles, including an extended analysis of product supply and also demand also, theories of the firm, and product and also resource sector frameworks. Students enrolling in this course need to have actually efficiently completed one year of high institution algebra or the indistinguishable.


Supplies:

Refer to the instructor"s course syllabus for details about any supplies that might be compelled.

Objectives

Exsimple the economic means of thinking by applying the following: scarcity, field of expertise, chance expense, marginal evaluation and production opportunity.Apply the supply and demand model and elasticity for economic evaluation.Analyze the partnership in between production and also expense as it pertains to total, average and marginal prices.Compare and contrast the operation of different industry structures.Critique the causes and also impacts of industry failures.

Content Summary and Competencies:

I. Foundations of Microeconomics - Supply and also Demand

A. Define the regulation of demand also.

1. Given a demand also schedule, derive a demand also curve.

2. Differentiate between demand also and also quantity demanded.

B. Identify the determinants of demand also.

C. Demonstrate demand values through examples.

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D. Define the regulation of supply.

1. Given a supply schedule, derive a supply curve.

2. Differentiate between supply and also amount provided.

E. Identify the components of supply.

F. Demonstprice supply ethics through examples.

G. Define equilibrium.

1. Given demand also and supply tables, derive equilibrium.

2. Create a graph showing equilibrium.

3. Determine the excess or shortage based upon the demand and also supply graphs.

4. Predict the sector effects of either a surplus or a shortage.

H. Define elasticity.

1. Derive the elasticity coreliable declared as a formula.

2. Find the value of an elasticity coreliable.

3. Describe just how price alters total revenue.

4. Given price and also total revenue, determine elasticity of demand also and supply.

5. Exsimple the impact of time upon elasticity, consisting of the sector period, the short run and also the lengthy run.

6. Describe cross and also earnings elasticity of demand also and also cite examples of each.

7. Define the vital terms linked through elasticity including price ceilings and also price floors.

8. Apply the values of elasticity to government treatment to manage prices.

II. Consumer Behavior

A. State the regulation of demand.

1. Define earnings and also substitution results.

2. Define the legislation of diminishing marginal utility.

a. Define the term utility.

b. Differentiate between full and also marginal utility.

c. Expush utility graphically.

B. Describe just how rational consumers maximize utility by comparing the marginal utility-to-price ratios of the commodities they purchase.

1. Solve numeric difficulties relating to utility maximization.

2. List a number of examples of energy maximization.

III. Production and Cost

A. Relate the regulation of diminishing retransforms to a firm"s short-run manufacturing costs.

B. Exsimple why economic expenses incorporate both explicit (revealed and expressed) expenses and implicit costs (current yet not obvious) costs.

C. Exordinary the partnership in between inputs and outputs.

D. Describe the idea of marginal performance.

1. Differentiate between marginal and also full product.

2. Define the legislation of diminishing marginal productivity.

3. Solve numeric problems relating to marginal performance.

E. Differentiate in between short-run costs and also long-run prices.

1. Define various types of short-run costs.

2. Examine the relationship between the miscellaneous short-run prices.

3. Solve numeric troubles relating to short-run costs.

4. Develop long-run expenses from short-run expenses.

5. Generate long-run curves from short-run curves.

IV. Market Structures in the Product Market

A. State the qualities of a perfectly competitive firm.

1. Define revenue, expenses and profit.

2. Determine the profit maximizing output and price utilizing complete revenue and also total expense.

3. Determine the profit maximizing output and also price utilizing marginal revenue and marginal price.

4. Develop the curves from the relevant revenue and expense.

5. Solve numeric troubles relating to profit maximization for a perfectly competitive firm

6. State the positive and negative traits of a perfectly competitive product market

B. State the features of a monopoly.

1. Determine the profit maximizing output and price using total revenue and also cost

2. Determine the profit maximizing output and also price using the marginal revenue and cost

3. Develop the curves from the relevant revenue and also price.

4. Solve numeric problems relating to profit maximization for a monopoly.

5. State the positive and negative traits of a syndicate.

C. State the characteristics of a monopolistically competitive firm.

1. Relate just how this version was obtained by combining perfect competition and monopoly models.

2. Determine the profit maximizing output and also price making use of marginal revenue and also price.

3. Develop the curves from the appropriate revenue and also prices.

4. Solve numeric difficulties relating to profit maximization for a monopolistically competitive firm.

5. State the positive and also negative traits of a monopolistically competitive firm.

6. Define the wastes of monopolistic competition.

7. Examine the affect of advertising upon this mode.

D. State the attributes of an oligopolistic firm.

1. Determine the profit maximizing output and price using marginal revenue and price.

2. Develop the curves from the relevant revenue and costs.

3. Apply game theory to the habits of a perkid under the oligopoly industry version.

4. Examine the four oligopoly models: the kinked demand also curve, collusive pricing, price leadership and also price plus pricing.

5. Solve numeric problems relating to profit maximization for an oligopolistic firm.

6. State the positive and negative traits of an oligopolistic firm.

V. Market Structures in the Factor Market

A. State the various factor industries.

B. Develop the marginal efficiency concept of reresource demand also.

C. Relate the marginal performance concept to the reresource labor.

1. Derive the demand also for and supply of labor under perfectly competitive problems.

2. Determine the wage price and also the employment level under perfect competition.

3. Derive the marginal reresource cost and the supply curve of labor under imperfect competition (monopsony).

4. Determine the wage price and the employment level under monopsony and also bilateral monopoly.