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Master Course Outline
ECON 100
Introduction to Economics
Course Description: This course is designed to introduce economics and the economic approach to the
problems created by scarcity. Specifically, the course will be "economics for non-majors: fundamental
concepts of economic analysis with application to contemporary problems." The student should learn
what a market system is and how it has come to be the predominate economic system. 5 lecture hours.
Satisfies social science distribution area B requirement or specified elective for the AA degree.
Credits: 5
Prerequisites: MATH 098 or placement in college level math or Instructor permission.
Recommended Preparation:
None
Co-requisites: None
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Express what economists mean by the concept of scarcity
Identify and explain the four major categories of economic resources
Explain the concept of market equilibrium
Predict a change in market outcomes given a change in supply or demand
Define and explain the laws of supply and demand
Identify the determinants of aggregate demand and aggregate supply
Explain how the pursuit of profit leads to efficient outcomes
Describe and apply the concept of cost-benefit decision-making
Define and explain macro measurements including GDP, inflation, and unemployment rates
Identify the major sources of economic growth
Identify and explain the elements of supply-side economic growth theory
Identify examples of positive and negative cost-benefit externalities
Use marginal productivity theory to explain the distribution of income
Demonstrate the effect of labor market discrimination on wage rates
Describe the circular flow model of the economy
Identify the possible roles of government in the market economy
Describe and analyze examples of the principle of comparative advantage
Academic Integrity: All forms of cheating, falsification, and plagiarism are against the rules of this course
and of Grays Harbor College. Students who are unsure what constitutes academic dishonesty are
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responsible for asking the instructor for clarification. Instances of intentional academic dishonesty will
be dealt with severely.
Disabilities: Students who have documented disabilities that require accommodations in compliance
with the Americans with Disabilities Act should contact the Disability Support Services coordinator as
well as the instructor of the course in order to ensure that together we create an optimal environment
for educational achievement.
W Day, the final day to officially withdraw from a course, is the Thursday of the seventh week (Thursday
of the fourth week for summer quarter). Students who do not withdraw by that date will receive the
grades they have earned, regardless of whether they are attending the course or completing the work.
Students who are considering withdrawal are strongly advised to consult with the instructor, advisor and
financial aid prior to withdrawing. The only withdrawals allowed after W Day are complete withdrawals
from all courses.
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