eco212 | undergraduate

Principles Of Economics

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This course introduces the fundamental theories of microeconomics and macroeconomics. The economic principles studied in this course apply to everyday life as students research an industry, debate issues with trade agreements, and discuss the effects of shifts in supply and demand. This course also examines principle economic concepts such as opportunity cost and absolute advantage, as well as explores fiscal and monetary policies, market structures, and decision making for efficient results.

This undergraduate-level course is 5 This course is available to take individually or To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 5

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    Market Structures

    • Describe the four different types of market structures.
    • Examine American industries to the applicable market structure in which they are associated.
    • Discuss the importance of competition within an economy.
    • Compare public and private goods.

    Microeconomics and Macroeconomics

    • Discuss the power of consumer choice and the impact it has on the macroeconomy.
    • Explore both positive and negative externalities and the effects on the economy.
    • Examine the four main components of macroeconomics: inflation, interest rates, unemployment and GDP.
    • Determine what constitutes economic growth of a country in the short term and long term.

    Fiscal and Monetary Policy

    • Determine the role and objective of fiscal and monetary policy on the macroeconomy.
    • Explain the effects of fiscal and monetary policy on economic productivity employment.
    • Discuss how government utilizes tax revenue to maximize social welfare.
    • Explore how money is created, distributed and monitored by the Federal Reserve.

    International Trade

    • Determine the factors, challenges, and gains involved in international trade.
    • Discuss the effects of limitations and obstacles involved for countries involved in international trade.
    • Examine specific country’s absolute and comparative advantage and the impact it has on international trade.
    • Describe the influences affecting foreign exchange rates on trade.

    Introduction to Economics

    • Explain how economic principles are related to micro decision making as well as macro workings of the economy.
    • Determine how changes in supply and demand influence price, quantity, and market equilibrium.
    • Compare economic models and economic systems.
    • Justify the various types of elasticities.
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    Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.