ECN 150 - An Economic Perspective

3 Credits, 3 Contact Hours
3 lecture periods 0 lab periods
The study of the interactions of individuals and societies from the viewpoint of economics. Includes the philosophy of economics, the history of economic thought, conventional economic theory, questions of equity versus efficiency, contemporary economic issues, microeconomics, macroeconomics, the individual and our democracy.

Gen-Ed: Meets AGEC - SBS and G; Meets CTE - SBS and G.

Course Learning Outcomes

Identify underlying concepts used in economics, the philosophy of economics, and the history of economic thought.
Distinguish between the production possibilities curve (PPC) and market analysis.
Examine contemporary microeconomic issues, including income distribution, market power, and the environment.
Debate contemporary macroeconomic issues, including deficits and debt, international trade, and inflation and unemployment.
Specify the ways in which economic policies impact diverse populations.
Determine views on contemporary economic issues as a result of exposure to economic ways of thinking.

Outline:

Introduction
1. Underlying concepts used in economics
2. Philosophy of economics
3. History of economic thought
Conventional Economic Theory
1. Production possibilities curve (PPC)
2. Market analysis: supply and demand
Economic Policies and Diverse Populations
1. The role of government
2. Efficiency vs. equity
3. The interplay between politics and economics
Contemporary Microeconomic Issues
1. Income distribution
2. Market power
3. The environment
4. Analyses of other microeconomic issues
Contemporary Macroeconomic Issues
1. Deficits and debt
2. International trade
3. Inflation and unemployment
4. Analyses of other macroeconomic issues
Practical Applications
1. Participant views on contemporary economic issues
2. Civic engagement