EC 201 - Introduction to Microeconomics
EC 201 - Introduction to Microeconomics
This course introduces the theory of relative prices in a market system, consumer choice, marginal analysis, and the allocation of productive resources among alternative uses in a market economy. Other topics may include market power and price discrimination, public finance, the labor market and environmental policy.
COURSE OUTCOMES:
Discuss the role scarcity plays in defining economic choices and how individuals, companies and nations resolve these issues.
Describe and apply marginal principle, principle of opportunity cost, principle of diminishing returns, comparative advantage, and elasticity.
Analyze the relationships between production costs and cost curves.
Explain the mechanics of supply and demand and apply the supply and demand model to evaluate markets.
Discuss the efficiency and equity of both competitive and noncompetitive markets and how both are impacted by government intervention.
Explain, compare and contrast, and apply in context each of the basic market structures - i.e. perfect competition, monopoly, oligopoly and monopolistic competition.
- Date:
- 2015
- Primary Material Type:
- Online Course
- Other Material Types:
- Collection
- Institution:
- Linn-Benton Virtual College
- Project Name:
- LB iLearn Online
- Funding Source:
- TAACCCT Round 3
- Subjects:
- Economics, Business, General Studies
Industry / Occupation
- Industry Partner:
- Linn County Parks and Recreational Department - Provided curriculum advice.
- Industry Sector:
- Management of Companies and Enterprises (55)
- Occupation:
- All Occupations (00-0000)
Education / Instructional Information
- Instructional Program:
- Business, Management, Marketing, and Related Support Services (52)
- Educational Level of Materials:
-
- 1st year Community College or equivalent
- 2nd Year Community College or equivalent
- Time Required:
- 1 credit - 30 hours of student time
- Language:
- English (United States)
- Interactivity Type:
- Mix of Active and Presentation.
- Quality Rubric:
- QM
- Quality Note:
- This course was subjected to a six step review process: 1. A SME creates the outline and all content. The course is submitted to a course developer for implementation into the CANVAS LMS system. Areas of confusion or items that need additional clarity are identified and remediated. 3. An instructional design checklist is applied to ensure ADA, UDL, and Creative Commons compliance. 3. Course is reviewed using a modified Quality Matters Rubric. 4. The initial offering is by the original SME to identify other necessary revisions. 5. Course goes through a secondary Quality Improvement process evaluation by an Instructional Designer and is subject to a Quality Improvement checklist. 6. Course is reviewed by third-party evaluator acting in the role of a SME.
- Quality of Subject Matter was assured by:
-
- Consultations during development of instructional materials
- Participation as an ongoing member of team developing the instructional materials
- Other
- Quality of Online/Hybrid Course Design assured by:
-
- Custom Quality Rubric
- Expertise of Project's Instructional Designers
- Course Note:
- Business
Accessibility
- Accessibility Features:
-
- Text Access - Text to Speech
- Text Adjust - Compatible
- Text Adjustment - Adjust Font and Colors
- Reading Layout - Reflow the Text
- Reading Layout - Page numbers match printed material
- Reading Layout - Reflow the Text
- Hyperlinks Rendered As Active
- Colors Compatible With Assistive Technology
- Contrast Ratio of at Least 4.5:1.
- Non-Decorative Images Have Alt Text
- Decorative Images Marked With Null Alt Text
- Transcript Provided With Audio Content
Copyright / Licensing
- Copyright Owner:
- LB iLearn Online
Except where otherwise noted, the works contained in this website are licensed under a
Creative Commons
Attribution 4.0 International License. Accessibility Support Strategy.
Terms of Service.