ECON 200 Introduction to Economics

Economics studies how people in society organize themselves to decide what to produce, how to produce, and for whom to produce. Basic economic concepts and measurements are covered. The course builds a solid foundation of elementary economic knowledge so students can better understand current economic issues. This course is recommended as preparation for ECON 201 and ECON 202.

Credits

3

Prerequisite

Recommended: MTH 111Z

Course Learning Outcomes

Upon successful completion of this course, the student will be able to:
1. Interpret and explain supply and demand graphs
2. Explain basic microeconomic concepts such as opportunity cost, relative price and social surplus
3. Calculate and interpret key economic elasticities and measurements
4. Define poverty and income inequality issues
5. Explain basic macroeconomic concepts such as aggregate product, price index, and unemployment