Discipline: Economics Degree Credit  [X]
Non Credit  [ ]
Nondegree Credit  [ ]
Comm Service  [ ]
 

Riverside Community College District
Integrated Course Outline of Record

Economics 4


COURSE DESCRIPTION
4 Intro Economics Units: 3.00
 
Prerequisite: None.
 
An entry-level, general education course which introduces and surveys basic macroeconomic and microeconomic principles. This course emphasizes the causes and consequences of the business cycle on output, employment, and prices as well as, basic supply and demand analysis across different market structures. Analysis further includes the role of the government in the macro-economy and the micro-economy. 54 hours lecture.
 
SHORT DESCRIPTION FOR CLASS SCHEDULE
An entry-level, general education course which introduces and surveys basic macroeconomic and microeconomic principles.
 
ADVISORY ENTRY SKILLS
None.

STUDENT LEARNING OUTCOMES
 Upon successful completion of the course, students should be able to:
  1. Explain, apply and analyze basic economic concepts and issues.
  2. Explain economic theories and utilize them to predict economic outcomes.
  3. Evaluate the impact of policies on different groups/sectors in the economy.

 
 
COURSE CONTENT
  TOPICS
 

1.   Introduction
      a.   Introduction to Economics      
                  1.   What is economics
                  2.   Factors of production
                  3.   Economics theory and policy
                  4.   Tools of the economist
      b.   Economic Decision Making and Economic Systems   
                  1.   Scarcity and society’s basic economic decision
                  2.   Economic systems
                  3.   The U.S. economic system
      c.   Demand, Supply       
                  1.   Determination of equilibrium price and quantity
                  2.   Changes in demand and supply
                  3.   Limiting the movement of prices (price controls)
                  4.   Price elasticity of demand and supply
2.   The Macroeconomy
      a.   Goals and Problems of the Macroeconomy    
                  1.   Unemployment and full employment
                  2.   Inflation and stable prices
                  3.   Production/measurement of production
      b.   Foundations of the Macroeconomy     
                  1.   Changes in the level of economic activity
                        (business cycles)
                  2.   Total spending and the level of economic activity
      c.   The Role of Government in the Macroeconomy    
                  1.   Government revenues and expenditures
                  2.   Fiscal policy/government budgets
                  3.   The national debt
      d.   Money, Financial Institutions, and the Federal Reserve   
                  1.   Money/money supply
                  2.   Financial institutions
                  3.   The Federal Reserve System
      e.   Money Creation, Monetary Theory, and Monetary Policy   
                  1.   Money creation
                  2.   Excess reserves, interest rates, and the level of
                        spending
                  3.   The Federal reserve and monetary policy
      f.   Questions and Issues in the Macroeconomy    
                  1.   Inflation and unemployment trade-off
                  2.   Use of wage-price controls
                  3.   Alternative macroeconomic viewpoints and policies
3.   The Microeconomy
      a.   Consumer Theory        
                  1.   Concept of utility/marginal utility
                  2.   Maximizing satisfaction
                  3.   Elasticity
      b.   Business Costs        
                  1.   Production
                  2.   Costs  
      c.   Market Structures       
                  1.   Perfect competition
                  2.   Monopoly
                  3.   Oligopoly
                  4.   Monopolistic Competition
      d.   Market Imperfections and the Role of the Government   
         
 
METHODS OF INSTRUCTION
 Methods of instruction used to achieve student learning outcomes may include, but are not limited to:

  • Conduct classroom lecture and demonstration in order to develop the necessary understanding of economic principles, concepts, and theories.
  • Develop and assign class and/or computer-based exercises in order to have students practice applying, analyzing, and utilizing economic principles and theories.
  • Create and have students participate in active learning techniques such as, small group analysis, presentations, projects, or writing assignments in order to engage students more actively in the learning process.
 
METHODS OF EVALUATION
 Students will be evaluated for progress in and/or mastery of learning outcomes by methods of evaluation which may include, but are not limited to:

  • Exams designed to assess the students’ ability to grasp concepts, paradigms and theories of economics.
  • Short papers designed to assess the students’ ability to analyze economic concepts, paradigms, theories, problems, policies, and the result of those policies. These papers are also assigned to help students’ learn the material by writing and contemplating.
  • Class and individual projects designed to assess the students’ ability to gather information, analyze materials, and test results.
  • Class participation/demonstration/oral reports designed to engage students in the study of economics.
ASSIGNMENTS

Required Reading Assignments


Required Writing Assignments


Other Outside-of-Class Assignments
 
COURSE MATERIALS
 All materials used in this course will be periodically reviewed to ensure that they are appropriate for college level instruction. Possible texts include:

  • Bade, R. and Parkin, M.. Essential Foundations of Economics. 3 ed. any: Pearson Addison-Wesley, 2005.
  • Behravash, N. and Mansfield, E.. Economics U$A. 7 ed. any: WW Norton & Co. , 2005.
  • Rohlf, R.. Introduction to Economic Reasoning. 7 ed. any: Pearson Addison-Wesley, 2007.
  • Schiller, B.. Essentials. 6 ed. any: McGraw-Hill Irwin, 2004.
  • Tucker, I.. Economics for Today. 5 ed. any: South-Western College Publishing, 2005.
  • Welch, P. and Welch, G.. Economics Theory and Practice. 8 ed. any: Wiley, 2006.
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