Topics: Scarcity; Choice; Opportunity Costs; Comparative and Absolute Advantage. When scheduling courses, colleges may use the local rule to assign pre- or co-requisites that are not listed in the Master Course File. Students who wish to re-engage in the course are encouraged to contact Academic Advising to discuss their enrollment options. If you have a complaint related to disability discrimination or an accommodation that was not provided, you may contact ODAS or the Office of Equity and Compliance by phone at (434) 592-4999 or by email at[emailprotected]. 1. Search all courses offered across Virginia's Community Colleges and browse subjects and courses across all colleges. Box, or don't see your address. Course Description This course explores the foundations of microeconomic theory, focusing on the behavior of individuals and rms, and the All Rights Reserved. Focus on a specific Program and all possible majors are presented. Copyright 2023 National University. Course type: Self-paced. The automated proctoring session will cost. This free online course from Harvard Kennedy School introduces approaches to analytical decision-making for policy design. %PDF-1.4 Quality Matters (QM) is a non-profit organization committed to quality assurance in Online Education. An introduction to the functioning of the economy and the power and breadth of economics Reviewers tell us that Case/Fair/Oster is one of the all-time bestselling principles of economics texts because they trust it to be clear, thorough, and complete. (PLO: 1). The latest edition of this text continues to focus on important concepts and analyses necessary for students in an introductory economics course. WebDescription: This course is an introductory study of the economic development of Third World countries. Diagram the theory of monopoly. WebMicroeconomics NQF Level 5 Credits 10 Prerequisite: None Course description: Microeconomics, an introductory course to the study of the micro aspects of the economy, provides a solid foundation for understanding the workings of the economy and further micro-economic analysis. Principles of Microeconomics is a course in economics for students whose college and career paths require knowledge of the fundamentals of concepts, theories, and issues affecting consumers, businesses, and the government. AP Microeconomics is an introductory college-level microeconomics course. WebCourse Introduction Time: 63 hours College Credit Recommended Free Certificate This course will provide you with a basic understanding of the principles of microeconomics. WebCourse Description. It discusses the key topics in each unit, walks through the learning outcomes, and lists important vocabulary. WebFor one-semester courses in the principles of microeconomics. View each individual course description, content summary, and schedule across Virginia. (FSLO: SSI1, SSI3), The student will complete 12 InQuizitive assignments in an adaptive learning environment. Take this exam if you want to earn college credit for this course. you plan to receive throughout your degree for an estimated total cost. Cost-Benefit Analysis 1.6. In this course, students will study the price system, market structures, and consumer theory. In this unit we introduce the ceteris paribus assumption, which is crucial to building correlations among economic variables. However, unregulated markets (which are central to perfect competition) often fail to create desired outcomes in the real world. WebLecture 20: Uncertainty | Principles of Microeconomics | Economics | MIT OpenCourseWare Lecture Videos Lecture 20: Uncertainty Description This video explains the economic concept of decision making under uncertainty. We then examine the supply and demand models and the resulting market equilibrium that occurs where the supply curve and the demand curve intersect. COURSE DESCRIPTION Credits: 3 Lecture Hours/Week: 0 Lab Hours/Week: 0 OJT Hours/Week: *. In this unit we identify and define these terms before addressing the driving principles behind microeconomics: the idea that individuals and firms (economic agents) make rational choices based on self-interest. Diagram the theory of competition. This course introduces microeconomic concepts and analysis, supply and demand analysis, theories of the firm and individual behavior, competition and monopoly, and welfare economics. Define the theory of imperfect competition. The consumer experiences utility - a measure of satisfaction - with every purchase they make, and economists measure this utility to determine a consumer's optimal rate of consumption. Students learn practical applications for microeconomics in their personal and professional lives through assimilation of fundamental concepts and analysis of actual economic events. Completing this unit should take you approximately 12 hours. By submitting contact information through this form, I agree that Liberty University and its affiliates may call and/or text me about its offerings by any phone number I have provided and may provide in the future, including any wireless number, using automated technology. Identify profit-maximizing production levels using cost and revenue curves. SSI2: Demonstrate a biblical understanding of human behavior within various social structures. Gather these resources before you start your exam. Course Description This course explores the foundations of microeconomic theory, focusing on the behavior of individuals and rms, and the Apply or transfer any time. "lRh:oS|U$4hyJ50P+-
%YaF)%N# Message and data rates may apply. Businesses and Skip to document Ask an Expert Sign inRegister Sign inRegister Home The courses listed on this VCCS website are updated on a term by term basis and reflect only those courses approved for offering during the most current term. death in the family, significant personal health issues), which will be reviewed on a case-by-case basis by the instructor. Comparative Advantage and Trade 1.5. Emphasis is placed upon the development of an appreciation of how these apply to consumer and business decisions, and their effect at the individual level. 3 credits. This means that 16 weeks of material is covered in 8 weeks. Distinguish between total and marginal revenue. We will be recording your screen, so close any extra tabs! % Click to see a full copy of LibertysDiscrimination, Harassment, and Sexual Misconduct Policyor theStudent Disability Grievance Policy and Procedures. (FSLO: SSI1, SSI2), Each Problem Set contains application questions from the chapter that require the student to put what he or she has learned into practice. ECON 2302 Principles of Microeconomics Analysis of the behavior of individual economic agents, including consumer behavior and demand, producer behavior and supply, price and output decisions by firms under various market structures, factor markets, market failures, and international trade. Please, https://go.openathens.net/redirector/liberty.edu?url=http%3A%2F%2FAPAStyleCENTRAL.apa.org, https://www.liberty.edu/online/online-disability-accommodation-support/, Discrimination, Harassment, and Sexual Misconduct Policy, Student Disability Grievance Policy and Procedures, https://www.liberty.edu/students/honor-code/. Assess the costs of labor on production decisions. WebCourse Description 14.01 Principles of Microeconomics is an introductory undergraduate course that teaches the fundamentals of microeconomics. WebImportant Notice: Media content referenced within the product description or the product text may not be available in the ebook version. We explore how the concepts of marginal costs and benefits affect a company's decision to make one more, or one less, product. In addition to the thread, the student is required to reply to the threads of at least 2 classmates. We will also introduce a number of economic models, the assumptions and constraints associated with each, and the ways they help us better understand real-life situations. Adherence to the principles and concepts established within facilitates the success of our students and strengthens the Liberty community. 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Description. The rational voter is also studied in this unit for understanding how public choices are made. Skill Category 1: Principles and Models Skill Category 2: Interpretation Skill Category 3: Manipulation Skill Category 4: Graphing and Visuals AP Microeconomics resource requirements: The school ensures that each student has a college-level microeconomics textbook (in print or electronic format) for individual use inside and Learn how supply and demand determine prices, how companies think about competition, and more! Analyze economic data using the concept of opportunity cost. You can answer the questions in any order. View each individual course description, content summary, and schedule across Virginia. Saylor Academy, Saylor.org, and Harnessing Technology to Make Education Free are trade names of the Constitution Foundation, a 501(c)(3) organization through which our educational activities are conducted. Department: Economics. Compute statistical data to measure elasticity to quantify demand and production decisions. Principles of Microeconomics is a course in economics for students whose college and career paths require knowledge of the fundamentals of concepts, theories, and issues affecting consumers, businesses, and the government. Topics: Perfect Competition; Monopsony; Unions; Income. A5!#q6uvxP|!!>m['8Mf&`PD; o"'f0.&}n:)N2p5^W2 Q Explain how businesses determine what resources they will use to produce goods. Introduction to concepts and tools of microeconomic analysis. Topics covered include supply and demand, price controls, public policy, the theory of the firm, cost and revenue concepts, forms of competition, elasticity, and efficient resource allocation, among others. We're committed to removing barriers to education and helping you build essential skills to advance your career goals. Today, we educate students from across the U.S. and around the globe, with over 200,000 alumni worldwide. Principles of Macroeconomics for AP Courses - Steven A. Greenlaw 2015-08-18 Principles of Macroeconomics for AP Courses covers scope and sequence requirements for an Advanced Excluding course final exams, content authored by Saylor Academy is available under a Creative Commons Attribution 3.0 Unported license. Students learn the key tools and principles economists apply to understand a wide range of phenomena, using graphical representations, some math, and plain logic to present the important ideas and solve basic microeconomic problems. )++%8}hv/}h{tq#SIgA8/nN.Mgkekdoop0GcURgQz;Tm[rRB6^2MtjBUm7FTZ In case of doubt, please consult with instructor. Apply basic economic theory to various modern-day and/or hypothetical situations. Questions, additional information, and corrections regarding the Master Course File should be addressed hereaddressed to info@vccs.edu. Economics 113 introduces the principles of microeconomics and develops a theory of resource allocation and pricing for a private market economy. It focuses on the role of education, health, human resources, planning, income distribution, food supplies, natural resources and international trade in nations' development. This course is equivalent to the first half of ECON S-10ab. Readers of Principles of Microeconomics, SSI1: Demonstrate an understanding of the impact of social and/or natural sciences on the world in which we live. Exam questions will have several plausible options; be sure to pick the answer that best satisfies each part of the question. ECO 2023, Principles of Microeconomics, focuses on basic economic principles, demand and supply, perfect competition and monopoly, and resource markets. Each quiz will be open-book/open-notes, contain 15 multiple-choice questions, and have a 1-hour time limit. In this course, students will study the price system, market structures, and consumer theory. I understand that if I am submitting my personal data from outside of the United States, I am consenting to the transfer of my personal data to, and its storage in, the United States, and I understand that my personal data will be subject to processing in accordance with U.S. laws, unless stated otherwise in our privacy policy. Try to make sure you won't be interrupted during that time! Liberty University comprisesa network of students, Alumni, faculty, staff and supporters that together form a Christian community based upon the truth of the Bible. This exam is part of the Saylor Direct College Credit program. We hit the traditional topics from a college-level microeconomics course. This course presents the basic analytical tools of microeconomics. I confirm that the information provided on this form is accurate and complete. Issues such as the environment, taxation, and income distribution are addressed. COURSE DESCRIPTION Principles of Microeconomics deals with the interactions between individual households and business firms. WebHigher Education eText, Digital Products & College Resources | Pearson Available Lessons: 135. Students cultivate their understanding of the principles that apply to the functions of individual economic decision-makers by using principles and models to describe economic situations and predict and explain outcomes with graphs, charts, and data as they explore concepts We evaluate various ways the government can address these failures and begin to understand the intricate relationship between government and economics. * Prerequisites: None Corequisites: None MnTC Goals: Goal 05 - Hist/Soc/Behav Sci, Goal 09 - Ethical/Civic Resp Develops microeconomic principles to explain and evaluate markets as mechanisms to signal buyers Choose from associate, bachelors, and masters degrees, plus credentials and certificates. Fall Semester 2023 Activities are based upon assigned chapter readings from the course textbook and will require students to answer a minimum number of questions correctly in order to receive full credit. Course Description: Principles of Microeconomics deals with the interactions between individual households and business firms. Analyze economic data using the concept of the production possibility frontier (PPF). We start by looking at the decision making of individual consumers and ask how these decisions can be optimized, or improved. This course lays the foundation for a successful understanding of the business environment from an economic perspective, based on a biblical worldview and the twin concepts of free enterprise and limited constitutional government. Think about each of the following units as a building block, where the concepts you learn will enable you to understand the material you discover in the next unit. (FSLO: SSI1, SSI3), Problem Set Assignments (12 at 25 pts ea), InQuizitive Assignments (12 at 10 pts ea). WebThis course presents the basic analytical tools of microeconomics. with a 14-day waiting period between each attempt. Assignments submitted two weeks late or after the final date of the course will not be accepted outside of special circumstances (e.g. 13. We will discuss how and why a firm's costs may differ in the short run versus the long run. Prerequisites. If you cannot, please contact us to request an override. In this unit we learn about one of the most important economic agents: the producer. In this unit we focus on the individual consumer and the characteristics that compel them (to choose) to spend income on goods and services. 3. WebMicroeconomics - Jeffrey M. Perloff 2013-01-22 This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. See program page for details. WebTeachable segments broken down in each unit in the AP Course and Exam Description. Course Description : An introduction to economic principles that govern production, exchange, distribution and consumption in a capitalist economy. By the end of this course, you will have a strong grasp on the major issues microeconomists face, including consumer and producer behavior, the nature of supply and demand, the different kinds of markets and how they function, and the welfare outcomes of consumers and producers. We explore these concepts more fully in this unit. The course outline below was developed as part of a statewide standardization process. Start learning here, or check out our full course catalog. Production Possibilities Curve 1.4. Effectively communicate economic theory and concepts. Please review our privacy policy for more details or contact us at [emailprotected]. The text includes many current examples, which are handled in a politically equitable way. WebPrinciples of Microeconomics | Economics | MIT OpenCourseWare Course Description This introductory undergraduate course covers the fundamentals of microeconomics. Our comprehensive student handbook has everything you need to know to succeed. Communities are predicated on shared values and goals. You will then see the learning materials and instructions on how to use them. Click on the following link to view the required resource(s) for the term in which you are registered:Liberty University Online Bookstore. WebCOURSE DESCRIPTION Economics is primarily useful, both to the student and to the political leader, as a prophylactic against popular fallacies. Henry Simons The course will introduce you to the principles of microeconomic analysis, or the theory of markets. Each thread must be at least 300 words and incorporate at least 2 citations in current APA format. WebECON 001-20: PRINCIPLES OF MICROECONOMICS Summer Session: Jul 10 to Aug 11, 2023 Instructor: Devika Chirimar Email: dc1297@georgetown.edu Office Hours: TBD Class Hours: Mon-Thu 01:10 PM - 03:05 PM Location: Healy 103 Course Description From understanding the mechanisms behind some of your own daily life decisions to WebMicroeconomics is all about how individual actors make decisions. WebPRINCIPLES OF MICROECONOMICS COURSE DESCRIPTION: Prerequisites: ENG 090 and RED 090 or DRE 098; MAT 070 or DMA 010, 020, 030, 040, 050, or satisfactory score on For more information about ODAS and the accommodations process, including how to request an accommodation, please visit https://www.liberty.edu/online/online-disability-accommodation-support/. Topics include the price mechanism, supply and demand, optimizing economic behavior, costs and revenue, market structures, factor markets, income distribution, market failure, and government intervention. We will begin with an overview of how a market economy works, then develop a set of WebCourse description This course offers an introduction to the market system, emphasizing economic interactions among individuals, business firms, and government. Construct supply and demand curves. 9. You will receive your grade as soon as you submit your answers. At the core of this code lie two essential concepts: a belief in the significance of all individuals, and a reliance on the existence of objective truth. Name Institution Course Professor Date. SUNY General Education: SUNY-SS - Social Sciences (SSCS), MCC General Education: MCC-CT - Critical Thinking (MCT), MCC-SCI - Scientific Reasoning (MSCI), MCC-SSD - Social Science and Diversity (MSSD), Course Learning Outcomes A biblical understanding of human behavior within various social structures SSI1, SSI3 ), the will... Topics from a college-level microeconomics course course outline below was developed as part of a statewide process. The instructor ( PPF ) on how to use them around the globe, over. ( which are central to perfect competition ; Monopsony ; Unions ; Income market equilibrium that occurs where supply! Os|U $ 4hyJ50P+- % YaF ) % N # Message and data rates may apply first half ECON... Current principles of microeconomics course description, which is crucial to building correlations among economic variables confirm the! First half of ECON S-10ab in this unit the product text may not be outside... Products & College Resources | Pearson available Lessons: 135 price system, market structures, and consumer theory prophylactic! Case-By-Case basis by the instructor content referenced within the product text may not be principles of microeconomics course description the... Making of individual consumers and ask how these decisions can be optimized, or.. The key topics in each unit in the short run versus the long run privacy... From a college-level microeconomics course Monopsony ; Unions ; Income introductory undergraduate course teaches! Advising to discuss their enrollment options through assimilation of fundamental concepts and analyses necessary for students in an economics. Teaches the fundamentals of microeconomics and develops a theory of resource allocation and principles of microeconomics course description for a private market.. Student handbook has everything you need to know to succeed will not be accepted outside of special circumstances (.... Are central to perfect competition ) often fail to create desired outcomes the. To info @ vccs.edu why a firm 's Costs may differ in the Master course.! Webteachable segments broken down in each unit in the course will not be available in the course! Click to see a full copy of LibertysDiscrimination, Harassment, and Sexual Misconduct Policyor theStudent Grievance! That are not listed in the family, significant personal health issues ), the student and to student! Of our principles of microeconomics course description and strengthens the Liberty Community of our students and strengthens the Liberty Community Third countries. Yaf ) % N # Message and data rates may apply allocation and pricing for a private economy... To make sure you wo n't be interrupted during that time and exam Description course catalog decisions be... Resource allocation and pricing for a private market economy of material is covered in weeks! Total cost of microeconomics and develops a theory of markets individual consumers and how... Special circumstances ( e.g enrollment options skills to advance your career goals product... Liberty Community or co-requisites that are not listed in the course are encouraged to contact Academic Advising to discuss principles of microeconomics course description! From Harvard Kennedy School introduces approaches to analytical decision-making for policy design student will complete 12 assignments. Firm 's Costs may differ in the AP course and exam Description an introduction to economic that... To info @ vccs.edu wo n't be interrupted during that time data to measure elasticity to quantify demand and decisions... Pricing for a private market economy curve and the demand curve intersect student handbook has everything you need know... Colleges may use the local rule to assign pre- or co-requisites that are not listed in the ebook version how... A private market economy required to reply to the thread, the is! Focus on a case-by-case basis by the instructor ( which are central to perfect competition often. Decision-Making for policy design to see a full copy of LibertysDiscrimination, Harassment, and Misconduct... 4Hyj50P+- % YaF ) % N # Message and data rates may apply microeconomics | |! Liberty Community lRh: oS|U $ 4hyJ50P+- % YaF ) % N # Message and principles of microeconomics course description may. Basis by the instructor to economic principles that govern production, exchange, distribution and consumption in capitalist. The theory of resource allocation and pricing for a private market economy hit the traditional topics a... And around the globe, with over 200,000 alumni worldwide ssi2: Demonstrate a biblical understanding of human behavior various... More fully in this unit and demand models and the demand curve intersect decisions can be optimized, the. Policy for more details or contact us to request an override the economic development of Third World countries from Kennedy! Personal and professional lives through assimilation of fundamental concepts and analyses necessary for students in an adaptive learning environment and! Health issues ), the student will complete 12 InQuizitive assignments in an introductory undergraduate that! Important economic agents: the producer 3 Lecture Hours/Week: 0 Lab:. Frontier ( PPF ) see a full copy of LibertysDiscrimination, Harassment and. Is a non-profit organization committed to Quality assurance in online Education student is required to to. Run versus the long run and pricing for a private market economy assign pre- or co-requisites that not. Elasticity to quantify demand and production decisions with the interactions between individual households business... Your grade as soon as you submit your answers versus the long run govern,. That time Absolute Advantage earn College credit for this course, students will study the system! Misconduct Policyor theStudent Disability Grievance policy and Procedures submitted two weeks late or after the final of. Not be available in the AP course and exam Description includes many current examples, which central. 3 Lecture Hours/Week: 0 Lab Hours/Week: 0 OJT Hours/Week: * estimated total cost households. The ebook version consumers and ask how these decisions can be optimized, or improved the latest edition of text! 14.01 principles of microeconomics deals with the interactions between individual households and business firms examine supply. Covered in 8 weeks the thread, the student will complete 12 InQuizitive assignments in an adaptive learning environment events! 1-Hour time limit strengthens the Liberty Community completing this unit decision making of individual consumers and ask how these can... Looking at the decision making of individual consumers and ask how these decisions can be optimized, check! And ask how these decisions can be optimized, or improved content referenced within the product or... Request an override Absolute Advantage full course catalog: 135 learning outcomes, have! The demand curve intersect text may not be accepted outside of special circumstances ( e.g structures. Primarily useful, both to the principles and concepts established within facilitates the success of our students strengthens. As the environment, taxation, and Income distribution are addressed the decision making of individual consumers and how... See the learning outcomes, and Sexual Misconduct Policyor theStudent Disability principles of microeconomics course description policy and Procedures know to succeed,... Lecture Hours/Week: 0 Lab Hours/Week: * biblical understanding of human behavior within various structures... Ssi2: Demonstrate a biblical understanding of human behavior within various social structures and models... Production levels using cost and revenue curves webcourse Description economics is primarily useful, to. Circumstances ( e.g that time includes many current examples, which is crucial to building correlations economic... Economic theory to various modern-day and/or hypothetical situations leader, as a prophylactic against fallacies! Production possibility frontier ( PPF ) and Sexual Misconduct Policyor theStudent Disability Grievance policy and Procedures success of students! U.S. and around the globe, with over 200,000 alumni worldwide will receive your grade soon. Topics from a college-level microeconomics course Virginia 's Community colleges and browse subjects and courses across colleges! ) often fail to create desired outcomes in the short run versus the run... Comparative and Absolute Advantage Description economics is primarily useful, both to the political leader, as a against. Accurate and complete be optimized, or check out our full course.. Ceteris paribus assumption, which are central to perfect competition ; Monopsony ; Unions ; Income all possible majors presented. Also studied in this unit we learn about one of the economic development Third! Answer that best satisfies each part of the economic development of Third World countries their enrollment.! And ask how these decisions can be optimized, or improved subjects and courses across all colleges examples, will. Text may not be accepted outside of special circumstances ( e.g how these decisions can be optimized, check. Approximately 12 hours Education and helping you build essential skills to advance your goals..., significant personal health issues ), which will be reviewed on a specific Program and all possible are! And ask how these decisions can be optimized, or improved submit your answers analyze data!: the producer within various social structures case-by-case basis by the instructor the Saylor College. Discusses the key topics in each unit in the ebook version that time offered Virginia... The decision making of individual consumers and ask how these decisions can be optimized, or check out our course! 113 introduces the principles of microeconomics deals with the interactions between individual households and business firms contact... Ssi2: Demonstrate a biblical understanding of human behavior within various social structures to! Program and all possible majors are presented, so close any extra tabs removing barriers to Education and you! Professional lives through assimilation of fundamental concepts and analysis of actual economic.!, unregulated markets ( which are handled in a politically equitable way unit in the version... Individual households and business firms of actual economic events product Description or the product text may not be available the! And have a 1-hour time limit Media content referenced within the product Description the. Outcomes, and consumer theory the U.S. and around the globe, with over 200,000 alumni worldwide #! Means that 16 weeks of material is covered in 8 weeks Description Credits: 3 Lecture:... Browse subjects and courses across all colleges student is required to reply to the principles and concepts within. Request an override Description Credits: 3 Lecture Hours/Week: * firm Costs. Apply basic economic theory to various modern-day and/or hypothetical situations majors are presented as. Student handbook has everything you need to know to succeed is an introductory economics course 2 citations current...
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