| |
Oct 23, 2026
|
|
|
|
|
ECON 2206 - Principles of Microeconomics
Credits: 3
Catalog Description
This course is an introduction to microeconomics including the theory of household (consumer) behavior, theory of the firm, market structures, market failures, economic efficiency, factor markets, and income distribution. Students who enroll in this course are expected to be able to use high-school algebra.
Recommended Skills, Abilities, or Coursework: High-school algebra
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
- Select the best definition of a given economic term, concept, or principle.
- Select the economic term, concept, or principle that best fits a given definition.
- Identify or associate terms that have closely related meanings.
- Recall or recognize specific economic rules.
- Apply economic concepts needed to define or solve a particular problem when the concepts are explicitly mentioned.
- Distinguish between correct and incorrect application of economic concepts that are specifically given.
- Distinguish between probable and improbable outcomes of specific economic actions or proposals.
- Judge the adequacy with which conclusions are supported by data and analysis involving no unstated assumptions or extraneous information.
- Apply economic concepts needed to define or solve a particular problem when the concepts are not explicitly mentioned.
- Distinguish between correct and incorrect application of economic concepts that are not specifically given.
- Distinguish between probable and improbable outcomes of specific economic actions or proposals involving assumptions or extraneous information.
- Judge the adequacy with which conclusions are supported by data or analysis involving unstated assumptions or extraneous information.
Major Areas of Course Content
- Critical Thinking in the Analysis of Economic Problems
- Scarcity
- Opportunity Costs
- Comparative Advantage
- Economic Efficiency
- Markets
- Price Mechanism
- Supply and Demand Analysis
- Price Elasticity
- Market Failures
- Externalities
- Government Intervention
- Regulation
- Income Distribution
- Government Redistribution
Credit for Prior Learning Options
Course-Specific Exam
Credit for Prior Learning Option Procedure(s)
Students may submit scores from Test of Understanding of College Economics or CLEP for consideration.
Add to Portfolio (opens a new window)
|
|
