ECON-101 - Principles of Microeconomics - 3.00 Credits
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Course Details
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Course topics include markets, applications of supply and demand analysis, the theory of consumer behaviour and the impact of government regulations and intervention on market performance. Other topics include the theory of the firm under imperfect competition, monopoly, and monopolistic competition, the principles of oligopoly, productive efficiency, the distribution of income, the role of unions and factor market performance.
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Part of the:UNIVERSITY TRANSFER Department
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Available/Required in the following Programs:Administrative Studies Certificate - Certificate Completion Plan
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Prerequisites : MATH 059, or Foundations of Math 11; or permission of instructor.
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Course Outline
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Instructors Qualifications:
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Relevant Master's Degree.
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Office Hours:
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1.5 Per week
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Contact Hours:
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45
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Student Evaluation
Procedure:
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Assignments 50-70%, Final 30-50%, Total 100%.
Grading procedures follow NVIT policy.
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Learning Outcomes:
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Upon successful completion of this course students should be able to:
describe economic principles, the distinction between micro- and macroeconomics and various economic concepts;analyze and illustrate short- and long-run cost curves, implicit and explicit costs and economies of scale and their application to real world businesses;describe the major market structures and their characteristics with special reference to perfect competitive firms, monopoly, oligopoly, and monopolistic competition and their implications to the economy;analyze and describe the effects of price controls and taxes on efficient functioning of markets; and,describe the principle of profit maximization and how it influences firms’ decision on output in the short- and long run.
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Text and Materials:
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John E. Sayre and Allan J. Morris. Principles of Microeconomics, Canadian Edition. Current edition. Whitby, ON. McGraw–Hill Ryerson.
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Other Resources:
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Transfer Credits:
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For more information visit: www.bctransferguide.ca
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Other Information:
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Education Council approved April, 2013
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