ECON2200 Principles of Microeconomics

This course will focus on tools and techniques used by economists that impact decisions made by individuals and businesses/firms. Current microeconomic issues are reviewed and analyzed as well as alternate views being provided.

Credits

3

Prerequisite

Qualifying score on reading assessment test OR ENGL0921. Basic computer literacy skills required

Course Requirements and Evaluation

Refer to Course Syllabus for detailed information regarding the requirements and evaluation standards for this course. The Course Syllabus will be distributed the first week of the course.

Learning Outcomes

The following outcomes will be addressed in the course:
Develop an understanding of basic economics
Explore the benefits of trade
Demonstrate how demand and supply determine the market equilibrium price
Explore the logic of consumer choice
Define the concept of elasticity
Explore the concepts of market failure, including externalities, public goods and asymmetric information
Examine the relationship between production function and costs
Critique the economic impact of the four types of market structures
Examine the impact of government tax, spending and antitrust policies on firms
Determine the demand and supply of the factor markets
Explore income distributions and alternatives to poverty
Explore the role of unions in determination of prices, wages and working conditions

Text and References

A list of textbooks required for this course is available at the bookstore.

Course Scheduling

The scheduled hours of instruction include sixteen hours for each lecture credit, thirty two hours for each lab credit and forty hours for each credit of supervised occupational experience (SOE). Lecture credit may include formal or impromptu lectures, demonstrations or discussions with the entire class or with small groups or individuals. Refer to the Credit Details section of this course outline for the credit breakdown.

Accommodations Statement

Disability Services assists students with disabilities who need accommodations to access programs, services and college activities.  If this applies to you, please contact the DS Office on your campus to initiate the accommodations process. 
Brooklyn Park Campus - 763-488-2477
Eden Prairie Campus – 952-995-1544

Campus

Brooklyn Park Campus Eden Prairie Campus 952-995-1300

Credit Details

lecture:

3

MnTC Goal Areas:

5 & 9