Maui Community College
Course Outline
1. Alpha and Number:
ECON 120
Course Title:
Introduction to Economics
Number of Credits:
3
Date of Outline:
March 19, 2004
2. Course Description:
Introduces the way economic systems operate.
Contrasts the American economy with other systems.
Studies the operation of business. Studies the operation
of business. Analyzes national policies in solving the
economic problems of inflation, unemployment, and
foreign trade. One semester course for non-majors in
economics.
3. Contact Hours Per Week:
3 hours/lecture
4. Prerequisites:
Placement at ENG 100, or consent.
Corequisites:
Recommended Preparation:
Approved by
Date
5. General Course Objectives:
Students should come away from the course with a better understanding of how the United States
Economy operates. This knowledge should allow them to become better informed consumers and
more effective participants in the labor market.
6. Student Learning Outcomes:
For assessment purposes, these are linked to #7, Recommended Course Content.
On successful completion of this course, students will be able to:
a.
b.
c.
d.
e.
f.
g.
demonstrate an understanding of the market mechanism, forces of supply & demand;
predict price changes based upon changes in supply & demand;
analyze local retail markets: competition, pricing and market share;
reflect upon how you use economic decision making skills in their everyday transactions;
participate effectively in small group discussion;
interpret and evaluate radio, television, and written news about the local and national economy;
grasp the correlation between the health of the us economy and the us stock market.
7. Recommended Course Content and Approximate Time Spent on Each Topic
Linked to #6, Student Learning Outcomes
1 – 2 Weeks:
Overview of Economics: Scarcity, Choices, Supply & Demand (a, b, d, e, f)
2 -- 3 Weeks:
Market mechanism, Market Structures: Monopoly, Oligopoly, Monopolistic
Competition, and Perfect Competition. (a, b, c, d, e, f, g)
1 – 2 Weeks:
Poverty and Income distribution (d, e, f)
2 – 3 Weeks:
Macroeconomics: GDP, Unemployment, Inflation (d, e, f, g)
1 – 2 Weeks:
Money, Banking, Federal Reserve (d, e, f)
2 – 3 Weeks:
State and Local Economic Issues including the environment (d, e, f)
8. Text and Materials:
Appropriate text(s) and materials will be chosen at the time the course is to be offered from those
currently available in the field. Examples include:
Text:
Introduction to Economic Reasoning 5th Edition, William D. Rohlf, Jr. Addison Wesley Publishing
ISBN 0-201-72625-4
Materials:
Videotapes viewed in class
Companion internet sites that go with the textbook
Other instructional aids.
9. Recommended Course and Evaluation:
Specific course requirements are at the discretion of the instructor at the time the course is being
offered. Suggested requirements might include, but are not limited to:
Attendance and participation
Written assignments from the book and current news media
In-class exercises/assignments
Ongoing stock market project
Written examinations and Final Paper
Evaluation and Grading:
Grading:
Three Unit Exams
One final paper
Homework (5 points a week)
Stock Market Project
Course grade:
90 – 100%
80 – 89%
70 – 79%
60 – 69%
Below 60%
50 points each
25 points
75 points total
50 points
A
B
C
D
F
10. Method of Instruction:
Instructional methods will vary considerably with instructors. Specific methods will be at the
discretion of the instructor teaching the course and might include, but are not limited to:
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
PowerPoint slide overview,
textbook reading assignment,
mention of Hot Topics to explore in the news,
homework assignments,
live lecture,
group discussions,
and videos shown in class.
to get the most out of class students need to come prepared, this implies having read the chapter
to be discussed and having listened to the news on radio or television, or having read the local
paper.
there will be ongoing discussions of current events and how they pertain to economics.
some of the homework will be completed during class time in small groups.