ECON 2143 - Basic Economics: Theory & Practice

• Explain the behavior of buyers and sellers in the market using basic economic theories
• Explain the role of government in influencing buyer and seller behavior in the market
• Describe basic economic theories that explain economic outcomes of the aggregate economy
• State basic economic principles that influence global trading and the challenges relating to globalization
• Recognize and analyze common economic issues which relate to individual markets and the aggregate economy
• Explain economic events in individual markets and the aggregate economy using basic economic theory and tools
• Outline the implications of various economic policies on individuals and on the economy
• Demonstrate competence in using simple diagrams and graphs to explain economic principles and their applications.
• Explain how your individual decisions and actions, as a member of society, affect the economy locally, nationally and internationally.

• Economic Models: Trade-offs and Trade 
• Supply and Demand Model and Its Application 
• Elasticity and Its Applications 
• Measuring National Income and the Price Level 
• Unemployment and Inflation 
• Long-Run Economic Growth 
• Aggregate Demand and Aggregate Supply 
• Fiscal Policy 
• Monetary Policy 
• Inputs and Costs 
• Perfect Competition 
• Monopoly and Other Market Structures 

Learning activities

• Assignments
• Field trips,
• Labs, etc.
• This course requires additional work that may need to be completed out of class or in a virtual or on-campus lab.

Assessments

• Written exams
• Quizzes
• Projects,
• Presentations,
• Exercises,
• Case studies

Grading guidelines 

• A = 90-100
• B = 80-89
• C = 70-79
• D = 60-69
• F = 59 & below