Dec 08, 2023
ECON 100 - Economic Principles and Applications Credits: 5
General survey course stressing basic principles of economic analysis and their applications to current problems and social issues. Intended primarily for students not majoring in business or economics and not intending to take ECON& 202 .
Enrollment Requirement: Eligible for ENGL 99 or instructor consent.
Satisfies Requirement: Social Science
Students who successfully complete this class will be able to:
- Discuss the economic way of thinking.
- Define opportunity cost and discuss how it relates to any action taken.
- Explain and discuss of the basic laws of demand and supply.
- Define Gross Domestic Product and discuss how the Department of Commerce measures it.
- Discuss how the Bureau of Labor Statistics estimates the unemployment rate and the inflation rate.
- Differentiate between normative and positive statements.
- Illustrate how changes in Supply and Demand influence market price.
- Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
- Quantitative and Symbolic Reasoning - Quantitative Reasoning encompasses abilities necessary for a student to become literate in today’s technological world. Quantitative reasoning begins with basic skills and extends to problem solving.
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