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Dec 21, 2024
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ECON 110 Survey of Economics (5 credits)
Distribution Area Fulfilled Social Sciences; General Transfer Elective
Course Description
Overview of micro and macroeconomics covering supply, demand, prices, production, market structures, role of government, overall economy, unemployment, inflation, taxes, government spending, money and interest rates.
Student Outcomes
1. Describe the goals of an economic system and the advantages and disadvantages of the market system..
2. Graph and explain supply and demand.
3. Explain what factors influence demand and supply and how they impact price and quantity.
4. Describe the differences in characteristics between a competitive market structure and a non-competitive market structure.
5. Describe the role of government in dealing with imperfections in the market system, including public goods and externalities.
6. Describe and calculate GDP.
7. Describe a recession and the business cycle and describe and calculate the unemployment rate.
8. Explain fiscal policy and how it can be used to change GDP, unemployment, and inflation.
9. Define a budget deficit, explain what causes a budget deficit, and describe the long run costs.
10. Explain monetary policy and how the Federal Reserve controls the money supply and interest rates in order to influence GDP, unemployment, and inflation.
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