ECO 110  Introduction to Economics

Description
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.

Objectives

• 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 international contexts.
• Students are prepared for two-hundred level economics courses.