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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: No

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