If you complete this course and do well, you will be able to:

  1. 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.
  2. 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.
  3. Demonstrate proficiency in using mathematics, statistics, graphs and verbal analysis to analyze current economic issues.
  4. Evaluate and explain how different market structures (perfect completion, monopoly, monopolistic completion, and oligopoly) maximize profits and achieve efficiency.
  5. Recognize the role of government regulations due to market failures and evaluate government policies.
  6. Differentiate amongst economic facts, opinions, assumption, and inferences as they relate to current economic topics and issues.
  7. Discuss the importance of international trade and its impact on the domestic economy using comparative and absolute advantage, tariffs, and exchange rates.
  8. Develop competencies in critical thinking skills to take higher level economics courses at four-year institutions.
  9. Recognize the role of economics in a well-informed citizen in the community.