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Syllabus for Microeconomics (ECON 102)
online Spring 2009 Course description and Student Learning outcomes |
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Course Description Assignments and Tests Grading Policies |
Principles of Microeconomics, Econ 102 Description of the Course Economics is a social science in which we study the patterns of behavior of people in societies. Specifically, we study behavior in how a society uses its resources. Like all social scientists, economists create theories that help us to make predictions and recommend policies. Microeconomics is the field of economics that studies the patterns in how individuals and companies make choices, particularly within the context of markets and how that affects outcomes – what, how, and for whom products and services are produced. The patterns of behavior and the limits of the economy are called the "principles" of microeconomics. Once you learn these principles, you will be able to understand a lot about people’s behavior and how to make decisions as well as economic situations. We study a model of how markets may work well to solve problems of how to best use resources and then we analyze how deviations in the real world can lead to undesirable results. Finally, we look at potential public policy solutions in cases where the free market does not work well. We will use the market model to explore how markets can, in some situations, orchestrate a finely tuned economy that produces just what we want and, on the other hand, lead society into producing it own self-destruction. This semester, we will look with particular interest at the recent melt-down in the credit markets, the many issues in gas and other energy markets. We will use these cases to explore when regulation and antitrust make sense and when reasonable sounding policies may create the wrong incentives in the long run. Expected Student Learning Outcomes A useful education experience is one where you learn to do something meaningful. Otherwise, you are mostly wasting your time. Colleges are therefore testing Student Learning Outcomes ("SLOs"). SLOs are tasks that you should be able to perform once you have taken a course. Your success in this class will be evaluated largely by you demonstrating that you can perform the following tasks:
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