ECON 120 - INTRODUCTION TO ECONOMICS

A broad introduction to understanding the functioning of economic systems, the problems of national economic performance in the United States and the problems of resource allocation in a market economy.

Course Objectives:

• To introduce you to the study of economics and to the methodology and models that economists use to analyze and explain the economic behavior of consumers and producers.

• To provide you with a foundation for understanding how the U.S. economy works compared to other types of economic systems.

• To provide you with basic economic tools for analyzing how the prices of goods and resources are determined and how these goods and resources are allocated among competing uses and users.

• To help you to interpret economic indicators that provide information about the performance of the U.S. economy.

• To provide you with basic economic tools for analyzing social problems and evaluating policy solutions for remedying social problems.

Math 20 E, F, G or Math 25 placement; and Eng 22 or 60 or Eng 100 placement.

Textbook:

Bradley Schiller, Essentials of Economics and
Linda Wilson and Thomas Anderson, Study Guide.

Grading Policy:

Grades will be allocated as follows:  A=90-100%; B=80-89%; C=65-79%; D=51-64%; F=0-50%.  N grades will be given only under extreme circumstances (e.g., medical emergency)  and where students have demonstrated a willingness to learn by regular attendance in class.  Students who disappear from the class without formally withdrawing or contacting the instructor will receive a failing grade.

Attendance Policy:

Your learning in this course will suffer if you fail to attend class.  Attendance will be taken each day.  Four or more unexcused absences will very likely result in a failing grade.

Requirements:

1.  Homework assignments (6 points each)
2.  3 Unit Exams (50 points each)

Reading Assignments:

You are required to read all assigned readings PRIOR to class, and to be prepared to discuss them in class.  The lectures are only intended to supplement and complement your readings, not substitute for them.

Homework Assignments:

Include math problems and brief essay questions that will reinforce your understanding of basic economic concepts.  Late Assignments: any assignment that you submit after the due date will be counted as late.  A 10% daily penalty deduction will be applied to each late assignment.

Exams:

Exams include a mix of multiple-choice questions; fill in the blanks; math problems; and one or two brief essay questions.  An unexcused absence on the day of an exam will result in a zero score and you will not be allowed to make up the exam.

Disclaimer:

The information on this web page should be viewed only as general guidelines for this class and is not intended to be all inclusive as modifications may be necessary.

TOPICS

UNIT 1
Chapter 1    The Challenge of  Economics
Chapter 2    Economic Systems: the U.S. Economy
Chapter 15  Economic Growth
Chapter 3    Supply and Demand

UNIT 2
Chapter 4    Consumer demand
Chapter 5    Supply Decisions
Chapter 6    Competition
Chapter 7    Monopoly
Chapter 8    Labor Market (optional)
Chapter 9    Government Intervention

UNIT 3
Chapter 10    The Business Cycle
Chapter 11    Aggregate Supply & Aggregate Demand
Chapter 12    Fiscal Policy
Chapter 13    Money & the Banking System
Chapter 14    Monetary Policy
Chapter 16    Theory v. Reality

UNIT 4    (optional)
Chapter 17    International Finance

This website was created by Denise Wong and Ellen Wong as part of a project for Cent 102 at Honolulu Community College.