ECON213: Principles of Microeconomics

11/08/2019 to 04/16/2020 • Modified 08/08/2024

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Course Description

Free market thought will be evaluated from the Christian perspective. The supply and demand model is used to analyze microeconomic issues including market structures, government regulations, labor market, financial market, and international trade.

For information regarding prerequisites for this course, please refer to the Academic Course Catalog.

Next Start Date*

August 19, 2024

LUOA Equivalent Course*

  • MAT 3213: Principles of Microeconomics, 3 LUO credits.

Program Restrictions*

  • DPL: Part Time Student (SPCA-DPL-D) Excluded

Rationale

This course lays the foundation for a successful understanding of the business environment from an economic perspective, based on a biblical worldview and the twin concepts of free enterprise and limited constitutional government.

Course Assignment

Textbook readings and lecture presentations

Course Requirements Checklist

After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Introduction to the Course Overview.

The student will be provided a list of Scripture verses from which the student needs to choose one and explain in at least 100 words which of the foundations of microeconomics apply. The student will have to defend his/her choice with well written and well reasoned analysis. This assignment aligns with the following FSLOs: SSI2.

The student will be given a choice of two video clips. The student needs to properly identify the externalities in the clip, explain who the third parties are in the externality, offer a solution on how to correct the externality, and then provide two examples of externalities that he/she experiences in his/her daily lives. The student’s post must be at least 100 words. This assignment aligns with the following FSLOs: SSI1 and SSI3.

The student will access data on median weekly wages by race. The student will build a graph of median wages over 20 years, identify the gap in wages between racial groups, offer thoughts on why the gap exists, and recommend a solution to close the gap. The student will provide a well written analysis of at least 200 words. This assignment aligns with the following FSLOs: SSI1 and SSI3.

Each Homework assignment contains application questions from the chapter that require the student to put what he or she has learned into practice. The student will fill answer questions, manipulate graphs, fill in blanks, or compute answers to the provided questions. (FSLO: SSI1, SSI3)

Quizzes (18)

Each quiz will cover the Learn material for the assigned module. Each quiz will be open-book/open-notes, contain 15 multiple-choice questions, and have a 45-minute time limit. (FSLO: SSI1, SSI3)

*Course specifics are tentative and subject to change each year. For the most current information, please refer to the Course Registration Tool.

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