ECON1200 Principles of Microeconomics
This course will focus on tools and techniques used by economists that impact decisions made by individuals, businesses, and governments. Particular attention will be placed on the determination of prices, types of markets, government’s role in the economy, and trade.
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:
Compare and contrast different economic systems
Demonstrate the benefits of trade using opportunity cost and comparative advantage
Apply marginal analysis to the decision making of individuals, firms, and governments
Demonstrate the impact of changes in both market supply and demand on equilibrium price and output
Analyze the causes and consequences of different market failures
Analyze the relationship between production function and costs.
Categorize markets into the four types of market structures
Determine optimal price and output for firms in the four types of market structures
Demonstrate the impact of government tax, subsidy and regulation on firms
Demonstrate how changes in the factor market impact the product market
Identify the causes of poverty and income inequality
Assess the government response to poverty and income inequality
Text and References
A list of textbooks required for this course is available at the
campus store and in eServices.
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 Course Credits section of this course outline for the credit breakdown.
Accommodations Statement
Access Services - Reasonable accommodations are available to qualified students with documented disabilities. Upon attending an intake meeting with Access Services, qualified students will receive a letter listing the approved accommodations that they may provide to their instructors. If you have a documented disability that may require accommodations, contact HTC Access Services at
AccessServices@hennepintech.edu or
https://hennepintech.edu/current-students/access-services/index.html.
Campus
Brooklyn Park Campus and Eden Prairie Campus: 952-995-1300
Credit Details