ECO 110 Introduction to Economics
The course is designed to introduce students to both microeconomic and
macroeconomic topics. Students will be introduced to ideas regarding
incentives, constraints, opportunity costs, and the unintended consequences
of good intentions. The course will also cover basic concepts such as
rationality, the price mechanism, specialization and exchange, and Christian
stewardship. On completing the course, students will be equipped with the
basic mathematical skills necessary for understanding economic theory.
- Students can explain fundamental microeconomic concepts, including
incentives, specialization and exchange, trade-offs, opportunity cost,
and marginal analysis, and apply them to past, current, and future
personal and public contexts.
- Students can explain fundamental macroeconomic concepts, including
national income accounting, inflation, unemployment, and monetary and
fiscal policy, and apply them to past, current, and future domestic and
- Students are prepared for two-hundred level economics courses.