12/21/2024 6:22:58 AM	ECON 2 Course Outline as of Fall 2025	Changed Course
CATALOG INFORMATION
Discipline and Nbr:  ECON 2	Title:  PRIN OF MICROECONOMICS
Full Title:  Principles of Microeconomics
Last Reviewed:10/28/2024

Units		Course Hours per Week			Nbr of Weeks	Course Hours Total
Maximum	3.00	Lecture Scheduled	3.00		17.5 max.	Lecture Scheduled	52.50
Minimum	3.00	Lab Scheduled	0		6 min.	Lab Scheduled	0
		Contact DHR	0			Contact DHR	0
		Contact Total	3.00			Contact Total	52.50
		Non-contact DHR	0			Non-contact DHR Total	0

Total Out of Class Hours:  105.00

Total Student Learning Hours: 157.50

Title 5 Category:  AA Degree Applicable
Grading:  Grade or P/NP
Repeatability:  00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As: 
Formerly:  ECON 1B

Catalog Description:

Students will engage in a broad survey of microeconomic concepts, principles, and theory. Topics include consumer demand, elasticity, business costs, revenues and profits, competitive market structures, and monopoly.

Prerequisites/Corequisites:
Course Completion of Intermediate Algebra or higher

Recommended Preparation:
Eligibility for ENGL C1000 or EMLS 10 or equivalent or appropriate placement based on AB705 mandates.

Limits on Enrollment:

Schedule of Classes Information
Description:

Students will engage in a broad survey of microeconomic concepts, principles, and theory. Topics include consumer demand, elasticity, business costs, revenues and profits, competitive market structures, and monopoly.

(Grade or P/NP)
Prerequisites:Course Completion of Intermediate Algebra or higher
Recommended:Eligibility for ENGL C1000 or EMLS 10 or equivalent or appropriate placement based on AB705 mandates.
Limits on Enrollment:
Transfer Credit:CSU;UC.
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP

ARTICULATION, MAJOR, and CERTIFICATION INFORMATION

Associate Degree:		Effective:	Fall 1981	Inactive:
Area:	D	Social and Behavioral Sciences
CSU GE:	Transfer Area			Effective:	Inactive:
	D	Social Science		Fall 1981
	D2	Economics
IGETC:	Transfer Area			Effective:	Inactive:
	4	Social and Behavioral Science		Fall 1981
	4B	Economics
CSU Transfer:	Transferable	Effective:	Fall 1981	Inactive:
UC Transfer:	Transferable	Effective:	Fall 1981	Inactive:
C-ID:
CID Descriptor: ECON 201	Principles of Microeconomics	SRJC Equivalent Course(s): ECON2

Certificate/Major Applicable: Major Applicable Course

COURSE CONTENT

Student Learning Outcomes:
At the conclusion of this course, the student should be able to:

1. Apply the tools of supply and demand to assess equilibrium of price and quantity in competitive markets.

2. Compare and contrast the production decision, profit/loss determination, and

short-run and long-run equilibrium for market structures ranging from pure

competition to pure monopoly.

3. Evaluate the impact of government intervention on free markets.

 

Objectives:

At the conclusion of this course, the student should be able to:

1. Define scarcity and measure opportunity cost in personal and professional decision making situations.

2. Interpret data and be able to illustrate the following economic models: production possibilities, comparative advantage, supply and demand, production, costs, and market structures.

3. Evaluate the uses and limitations of price controls, assess the role of government in domestic and international market economies, and demonstrate the effects of taxes and subsidies on supply and demand curves.

Topics and Scope

I. The Theory of Demand and Supply

    A. The law of demand, law of supply, income and substitution effects

    B. Marginal utility theory and the utility-maximizing principle

    C. Price elasticity of demand and other elasticity concepts

II. The Theory of the Firm

    A. Entrepreneurship

    B. Short-run production functions and the law of diminishing returns

    C. Long and short-run cost functions and rising marginal costs

    D. The principle of profit maximization/loss minimization

III. Industrial Organization: the Structure, Conduct and Performance of Markets

    A. Pure competition

    B. Monopoly

    C. Monopolistic competition

    D. Oligopoly

IV. International Economics

    A. The principle of comparative advantage

    B. Tariffs and trade

    C. Globalization and Protectionism - perceived competitive threats from firms in poor and medium-income countries

    D. Analysis of low-income countries

Assignments:

1. Read and study appropriate chapters in text (15-20 pages) per week.

2. Homework problem sets involving computation and graphing to be prepared for review and discussion (2-4)

3. Examinations; will be closed-book and no notes

4. Written assignments and chapter questions.

Methods of Evaluation/Basis of Grade.

Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.		Writing 5 - 30%
Written assignments
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.		Problem Solving 10 - 40%
Homework problems involving computation and graphing
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.		Skill Demonstrations 0 - 0%
None
Exams: All forms of formal testing, other than skill performance exams.		Exams 50 - 80%
Examinations
Other: Includes any assessment tools that do not logically fit into the above categories.		Other Category 0 - 0%
None

Representative Textbooks and Materials:

Principles of Microeconomics. 2nd edition. Coppock, L. and Mateer, D. W. W. Norton & Company. 2017. (classic).

 

Open Educational Resource:

 

Principles of Microeconomics. 3rd Edition. Shapiro, David et al. https://openstax.org/details/books/principles-microeconomics-3e Openstax, Rice University. 2022. Licensed under Creavtive Commons Attribution License v4.0

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