EC 226: Economics
This course introduces the fundamentals of microeconomics, macroeconomics, and international economics. Learners will also explore how these economic factors are related to the current economy and individual lives.
- Differentiate Microeconomics and Macroeconomics
- Explain how scarcity affects individual budget choices
- Draw the demand curve, and supply curve and identify the equilibrium point
- Categorize different types of unemployment
- Classify different market structure
- Compare absolute and comparative advantages in international trade environments
- Explain the importance of government budgets and fiscal policies
Student Learning Objectives:
Upon completion of this course, the student will be able to:
Develop critical reasoning skills with an economics perspective
Apply economic models in a historical and contemporary context
Interpret data in an economic context
Apply economic principles and theories to the current state of the American economy
Develop an understanding of marginal analysis and opportunity cost to aid decision-making scenarios
Evaluate the historical and contemporary fiscal and monetary policies of the United States.
General Education Objectives: Critical Reasoning
- Students will be able to comprehend material with clarity
Steven A. Greenlaw, David Shariro, Daniel, McDonald, Principles of Economics, 3rd Edition, Rice University, 2022, Openstax and Youtube videos
The main text for this course is also linked in PDF format in the General Course Information module on the course page. It is also free for students to download as it is an open-online resource.
When supplemental resources are needed within specific modules, these resources will be linked within a specific assignment, or a PDF version will be attached, for ease of access by students.
As this course is asynchronous in its delivery, students will need a reliable internet connection to access course materials.
This course is also designed so that students who participate will pass while students who desire an “A” will have to truly challenge themselves, enthusiastically participate, and work hard. Students can submit answers to the discussion and multiple-choice questions for each module until the end of the semester, but they will incur a late penalty for each such submission (the answers for each module are due at the end of each respective week).
Discussion assignments, when posted in respective modules, require students to make an original post, and to respond to other students’ posts to create discourse and expand the paths of learning and understanding, in lieu of the traditional face-to-face classroom environment. Specific discussion assignment requirements are posted in the assignment descriptions within the respective modules.
Student Evaluations
Each weekly module will require students to perform one or more evaluation assignments. For each module, this will likely be a review quiz, discussion assignment(s), or an assignment specific to a topic within the week; or a combination of. Answers to review quiz questions will be opened for student review once all students have completed the assignment.
In the final week of the course, students will have a final assignment or exam to demonstrate a comprehensive understanding of course materials.
Grading Scales
A = 90% - 100%
B = 80% - 89%
C = 70% - 79%
D = 60% - 69%
F = below 60%
Any grade at or above half-a-percentage point will be rounded up. For instance, a grade of 79.5% will be a "B."
Communication
Emails will be responded to no later than 48 hours, or by the end of business on Monday for mail received over the weekend.
This syllabus is subject to change
| Module | Topics | Assessments |
|---|---|---|
| Module 1 - Introduction to Economics and Scarcity | What is economics?; principles of scarcity and production possibilities; understanding what economic ‘players’ are; identifying economic systems; opportunity cost principles and the law of diminishing marginal utility |
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| Module 2 - Supply and Demand | What is supply and demand?; factors affecting supply and demand; shifts of supply and demand (whole line and on the line); equilibrium principles; understanding, and contrasting, price floors and price ceilings |
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| Module 3 - Labor of Supply and Demand Markets | Applications of labor market to supply and demand principles; equilibrium and larger market behaviors; challenges to regulations of labor and financial markets; minimum wage analysis. |
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| Module 4 - Elasticity and Consumer Choice | Principles of elasticity and consumer behavior within elasticity contexts; applications of elasticity to supply and demand; principles of diminishing returns. |
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| Module 5 - Market Structures | Types of market structures and their organizational principles; economies of scale and barriers to entry; monopolies and antitrust protections. |
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| Module 6 - Labor Markets | Larger focus of labor markets and structures that define the aggregate labor market; labor unions and structures/functions of; perfectly competitive and competitive market principles; federal policies aimed at reducing labor discrimination. |
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| Module 7 - Macroeconomics | Basic concepts of macroeconomics; causes and impacts of recessions and economic crises; unemployment factors within macroeconomic systems; factors that facilitate or inhibit economic growth; GDP and calculating its elements; monetary and fiscal policy of the US economy. |
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| Module 8 - Unemployment and Inflation | Exploration of how unemployment and inflation function within the US economy; types of unemployment; calculating unemployment rates and inflation rates. |
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| Module 9 - International Trade and the Exchange Rate | What is international trade?; what is the exchange rate and how does it function domestically and internationally for US economics; factors that influence international trade; previous concepts of opportunity costs, specialization, and barriers to trade. |
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| Module 10/11 - Final Week | Economics and Life assignment; end of term exam; feedback survey/course survey. |
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Emails will be responded to no later than 48 hours or by the end of business on Monday for mail received over the weekend.
Academic Honesty Policy
The college has a firm policy against academic dishonesty, including cheating or plagiarism. Students guilty of academic dishonesty will be administratively dropped from the course with a grade of ‘F’ and subject to disciplinary action, which may include suspension and dismissal.
Please refer to the Academic Honesty Policy for detailed information.
Late Assignment Policy
Meeting deadlines, being dependable, and applying appropriate time management are all foundational elements of professional behavior. These same attributes are also required while participating in college courses because the skills, knowledge, and student learning outcomes must be obtained in a specific order and within a certain amount of time.
We at Amerion College understand that sometimes students encounter circumstances that make it difficult to always meet the required course deadlines. This Late Work Policy is in place to accommodate that. In all circumstances, whenever possible, contact your instructor when you anticipate that you will be submitting work late.
The deadlines for most courses typically follow the pattern below, but it is your responsibility to confirm this and be aware if there are any assignments that may have different deadlines for one reason or another.
The first post in each Discussion Board is usually due on the Wednesday night of each module/week.
Most other assignments are due by 11:59 pm on Sunday evening of each module/week.
- All assignments must be submitted by the required due date.
- Missing assignments due to absence must be submitted within 1 week of return.
- Late submissions of assignments will result in a reduction of 10% of the total points possible per day (e.g., 1 day late = -10%, 2 days late = 20%, etc.) up to one week. Anything over 1 week late will result in a grade of 0.
- To receive full credit for late work, students must provide documentation for an excused absence, or it will be subject to the same treatment as any other late work. Documentation examples include court documents, hospitalization, etc.
Instructors may also choose to deduct less points at their discretion.
If for some reason a student temporarily loses the ability to connect to Canvas due to technical issues it is the student’s obligation to submit assignments by the original due dates. Temporary remedies can be connecting via a public WiFi spot, using school facilities to connect, or use of private networks through friends and family.
In extreme cases, when none of these solutions are available, the student may contact their instructors through other means and ask permission to submit their work directly, in a method that can be received by the instructor. Under no circumstances can methods of delivery outside of Canvas be used without explicit instructor permission. (If this ever happens the instructor should somehow note it).
Minimum Technology Requirements
Having access to a reliable desktop or laptop is required for Amerion College online courses. This requirement ensures students have the essential technologies to complete online courses successfully. Mobile devices, such as mobile phones and tablets may be utilized as additional tools to assist with completing online courses.
Online video conferences and calls are often the best way for instructors to assist students in many situations. A web camera and microphone are necessary for successful online conferences.
Safari and Chrome: Office 365 is designed to work with the current version of the Safari and Chrome browsers. Microsoft Edge: Office 365 is designed to work with the latest version of the Microsoft Edge browser.
Internet Explorer: Office 365 is designed to work with Internet Explorer 11. We recommend that you upgrade to Internet Explorer 11 if you are using an earlier version. Office might continue to work with versions of Internet Explorer other than Internet Explorer 11, but Office can’t provide any guarantees.
Firefox: Most Office 365 apps are designed to work with the current version of Firefox.
Some courses may have additional technology requirements beyond those listed here. Additional requirements will be listed in your Canvas course room.
Basic Office 365 apps are free and available to students with their Amerion College Outlook account. For additional questions and help with the required technologies, please contact support@amerion.edu
Minimum Technical Skills Requirements
To complete online courses successfully, you must be able to perform the following basic technical skills before starting the class
- Use the learning management system, Canvas
- Use Amerion College email with attachments
- Download, save, and upload files in Canvas
For additional questions regarding the required technologies, please contact support@amerion.edu
Technology Support
To be a successful online learner, certain technologies are necessary. Please keep in mind that certain classes may have additional technical requirements. You should be able to find additional technical requirements in your syllabus or your canvas course room. If you have any questions about the technology requirement, please do not hesitate to reach out to us at 304-697-7550 or support@amerion.edu
Accessibility Information
Amerion College is committed to full compliance with Section 504 of the Rehabilitation Act of 1973, and the Americans with Disabilities Act of 1990. For additional information, please access accessibility policy. Please do not hesitate to reach out to us at 304-697-7550 or pjustice@amerion.edu if you have any additional questions.
Copyright Policy
As an institution of higher education, Amerion College strongly believes in intellectual property. As such, Amerion College respects intellectual property and has made it a priority to ensure all employees and students respect the copyrights of others. If you have any questions about our copyright policy, please access the copyright policy.
Privacy Policy
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If you need to speak with a person regarding any college policies and guidelines, please don't hesitate to get in touch with the college at 304-697-7550
This information is standard for each course but specifics may vary based on the delivery method of the course you are taking. Please follow the information provided by your instructor.
This syllabus is subject to change.