Econ 2202 - Principles of Microeconomics
Course Objectives and Assessment
Objective 1: Understand the economic way of thinking.
Outcome:
- Students will understand and apply basic economic principles.
- Students will understand why individuals and countries trade.
- Students will understand and apply the concepts of supply and demand.
Assessment:
- Passing grade on chapter assignments and midterm exam.
Objective 2: Understand market efficiency and the impacts of government intervention.
Outcome:
- Students will understand and apply the concept of elasticity.
- Students will understand the concepts of consumer surplus, producer surplus, and efficiency.
- Students will understand the impact of the government intervening in a market through the use of price and quantity controls and taxes.
Assessment:
- Passing grade on chapter assignments and midterm exam.
Objective 3: Understand various market structures and how these structures impact performance.
Outcome:
- Students will understand the production and cost measures needed to evaluate a market structure.
- Students will understand the characteristics of a perfectly competitive market and its implications.
- Students will understand the characteristics of a imperfectly competitive market and its implications.
Assessment:
- Passing grade on chapter assignments and exam.
Objective 4: Understand market failures and the impact these failures have on the economy.
Outcome:
- Students will understand the difficulties that arise from public goods.
- Students will understand the difficulties that arise from externalities.
- Students will understand how government intervention can improve market outcomes.
Assessment:
- Passing grade on chapter assignments and final exam.