11/21/2024 12:00:38 PM	ECON 2 Course Outline as of Summer 2019	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:

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 MATH 154, MATH 155, MATH 156, or higher, or MATH 15, or appropriate placement based on AB 705 mandates

Recommended Preparation:
Course Eligibility for ENGL 1A

Limits on Enrollment:

Schedule of Classes Information
Description:

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 MATH 154, MATH 155, MATH 156, or higher, or MATH 15, or appropriate placement based on AB 705 mandates
Recommended:Course Eligibility for ENGL 1A
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. Interperit data and be able to illustrate the following economic modles:

     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

Assignments:

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

2. Approximately 3 homework problem sets to be prepared for review

    and discussion

3. Two to four in-class, closed-book, no-notes, examinations/quizzes including a final.  

     For online classes, examinations/quizzes will be taken online.

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 homework
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/Quizzes including a final, and essay exams
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

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