Course_Schedule - Course Syllabus Course Syllabus Course Schedule Weekly Topics and Learning Objectives Week 1 Define economics and the features of

Course_Schedule - Course Syllabus Course Syllabus...

This preview shows page 1 - 3 out of 8 pages.

10/1/2020 Course Syllabus gmc.mrooms3.net/mod/book/tool/print/index.php?id=4412347&chapterid=243640 1/8 Course Syllabus Course Schedule Weekly Topics and Learning Objectives Weekly Outline Reading Activities and Assignments Week 1 Define economics and the features of the economic perspective Distinguish microeconomics from macroeconomics and positive economics from normative economics List the categories of scarce resources and delineate the nature of society’s economizing problem Apply production possibilities analysis, increasing opportunity costs, and economic growth Explain how economic growth and international trade increase consumption possibilities Describe the mechanics of the circular flow model Differentiate between laissez-faire capitalism, the command system, and the market system Describe scientific method and its role in the development of economic theory in economics Understand graphs, curves, and slopes as they relate to economics In our very first module, we will explore what Economics actually is, its theories, and the concepts that lead us to make decisions in a world of limited options and choices. This is the core of economics. Every day, we decide on what to buy, what to wear, how much time we spend doing something by utilizing what is available to us. These limited options can help us to achieve positive outcomes and resources may come in the form of abilities, money, work ethic, energy, and most importantly - time. To make effective and satisfactory choices, we need to understand what scarcity is and how it affects us. As we cover this week’s topics, let us keep in mind the cost of what we choose versus the benefits of what we’re giving up to achieve our wants. Chapter 1 - Welcome to Economics Chapter 2 - Choice in a World of Scarcity Week 1 Discussion Forum First Post is due Wednesday by 11:55 pm EST/EDT. Forum closes Sunday by 11:55 pm EST/EDT Week 1 Critical Thinking Exercise First Post is due Friday by 11:55 pm EST/EDT. Exercise closes Sunday by 11:55 pm EST/EDT Week 1 Problem Set due Sunday by 11:55 pm EST/EDT Week 1 Quiz due Sunday by 11:55 pm EST/EDT
10/1/2020 Course Syllabus gmc.mrooms3.net/mod/book/tool/print/index.php?id=4412347&chapterid=243640 2/8 Week 2 Describe the nature and purposes of markets Describe the nature of demand, demand curves, and the law of demand Describe the determinants of demand and be able to forecast how a change in one or more of these determinants will change demand Explain the difference between a change in demand and a change in quantity demanded Describe the nature of supply, supply curves, and the law of supply Describe the determinants of supply and be able to forecast how a change in one or more of these determinants will change supply Explain the difference between a change in supply and a change in quantity supplied Determine market equilibrium price and output Determine and predict how price and output will change given changes to supply and demand in the market Our second module consists of uncovering how markets work. When we think about markets, we think

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture