Course Catalog Information (24-25)
ECON 2
Principles of Microeconomics
Course Description
An introductory course focusing on choices of individual economic decision-makers. Examines fundamental microeconomic issues; the allocation of resources and the production function, pricing of output and factors of production; the distribution of wealth and income; consumer motivations and behavior; the nature and behavior of business firms and markets under various degrees of competition and market failure.
Student Learning Outcomes
- Evaluate whether market efficiency exists using the supply and demand model.
- Demonstrate the knowledge about the way perfectly competitive markets work and what happens in the presence of imperfect market structures, including monopoly, monopolistic competition and oligopoly.
- Identify instances of market failure including externalities such as pollution and evaluate alternative strategies to improve outcomes, including private solutions.
- Apply the tools of Economic Analysis including opportunity cost and thinking at the margin to understand firms' as well as consumers' decision-making process.
Course Details
- Units
- 4 Units
- Hours
- Weekly Lecture Hours: 4
- Weekly Lab Hours: 0
- Gen Ed
- General Education Class
- Program Status
- Program Applicable
- Credit
- Credit - Degree Applicable
- Transferability
- Transferable to both UC and CSU
- Grading Method
- Letter Grading
Requisite and Advisory
- Prerequisite(s)
- Elementary algebra or equivalent or higher, or appropriate placement beyond elementary algebra
- Advisory(ies)
- EWRT 1A or EWRT 1AH or ESL 5
- Intermediate algebra or equivalent or higher, or appropriate placement beyond intermediate algebra
- Corequisite(s)
Limitations on Enrollment and Entrance Skills
- Limitation(s) on Enrollment
- Not open to students with credit in the Honors Program related course.