ECO 1100 Introduction to Economics
Survey of basic microeconomic and macroeconomic issues and concepts. Coverage includes: Supply, Demand, Equilibrium, the U.S. Economy, the Global Economy and Trade, Competition and Monopoly, Gross Domestic Product, Business Cycles, Unemployment, Inflation, Aggregate Demand and Aggregate Supply, Economic Growth, Fiscal and Monetary Policies.
Division: Business and Public Services
Department: Economics and Finance
Repeatable Credit: No
Offered Online: Yes
Prereqs: NONE
Outcomes
- Explain the concepts of scarcity, choice, opportunity cost, and production possibilities.
- Define basic economics concepts , including scarcity, opportunity costs, utility, production possibilities, capital, investment, efficiency, and economic growth.
- Describe supply, demand, equilibrium price, market shortages and surpluses, government price controls, competition, and monopoly.
- Describe economic cycles, recessions, unemployment, inflation, nominal and real GDP
- Describe government policies regarding taxes, spending, budget deficits, national debt, interest rates and money supply.
Credit Hours: 3
Classroom Hours: 3