If you complete this course and do well, you will be able to:
- Describe the foundation of current economic thought and identify basic economic issues using principles
of scarcity, opportunity costs, marginal costs and benefits, and profit maximizing.
- Analyze current economic issues using analytical tools such as supply and demand, marginal analysis and
cost and benefits to analyze decisions made by households and businesses.
- Demonstrate proficiency in using mathematics, statistics, graphs and verbal analysis to analyze current
economic issues.
- Evaluate and explain how different market structures (perfect completion, monopoly, monopolistic
completion, and oligopoly) maximize profits and achieve efficiency.
- Recognize the role of government regulations due to market failures and evaluate government policies.
- Differentiate amongst economic facts, opinions, assumption, and inferences as they relate to current
economic topics and issues.
- Discuss the importance of international trade and its impact on the domestic economy using comparative
and absolute advantage, tariffs, and exchange rates.
- Develop competencies in critical thinking skills to take higher level economics courses at four-year
institutions.
- Recognize the role of economics in a well-informed citizen in the community.