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Oct 23, 2026
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ECON 1100 - Introduction to the American Economy
Credits: 3
Catalog Description
Introduction to the American Economy is an overview of consumer, business, and government action in the United States economy. Both theory and current issues are covered.
Minnesota Transfer Curriculum (MnTC) Goal Area(s) fulfilled: Goal 02: Critical Thinking, Goal 05A: History and the Social and Behavioral Sciences
Additional fee to student: No
Learner Outcomes
- Model consumer decision-making.
- Model business decision-making.
- Describe how fiscal policy is developed.
- Describe how monetary policy is developed.
- Explain the consequences of trade.
- Locate economic information.
- Solve problems using economic reasoning.
- Convey economic ideas to others.
- Analyze the impact of structural changes.
- Analyze the impact of cultural bias on the economy.
- Describe the economic effects of institutional barriers.
- Solve consumer and business financial problems.
Major Areas of Course Content
- Scarcity
- Opportunity Costs/Tradeoffs
- Productivity
- Economic Systems
- Economic Institutions and Incentives
- Exchange, Money, and Interdependence
- Markets and Prices
- Supply and Demand
- Competition and Market Structure
- Income Distribution
- Market Failures
- Role of Government
- Gross Domestic Product
- Unemployment
- Inflation and Deflation
- Monetary Policy
- Fiscal Policy
- Comparative Advantage/Barriers to Trade
- Balance of Payments and Exchange Rates
- International Stability and Growth
Credit for Prior Learning Options
Course-Specific Exam
Credit for Prior Learning Option Procedure(s)
Student may take the Test of Economic Literacy.
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