Department of Economics

Econ 2202 - Principles of Microeconomics

Course Objectives and Assessment

Objective 1: Understand the economic way of thinking.

Outcome:

  1. Students will understand and apply basic economic principles.
  2. Students will understand why individuals and countries trade.
  3. Students will understand and apply the concepts of supply and demand.

Assessment:

  1. Passing grade on chapter assignments and midterm exam.

Objective 2: Understand market efficiency and the impacts of government intervention.

Outcome:

  1. Students will understand and apply the concept of elasticity.
  2. Students will understand the concepts of consumer surplus, producer surplus, and efficiency.
  3. Students will understand the impact of the government intervening in a market through the use of price and quantity controls and taxes.

Assessment:

  1. Passing grade on chapter assignments and midterm exam.

Objective 3: Understand various market structures and how these structures impact performance.

Outcome:

  1. Students will understand the production and cost measures needed to evaluate a market structure.
  2. Students will understand the characteristics of a perfectly competitive market and its implications.
  3. Students will understand the characteristics of a imperfectly competitive market and its implications.

Assessment:

  1. Passing grade on chapter assignments and exam.

Objective 4: Understand market failures and the impact these failures have on the economy.

Outcome:

  1. Students will understand the difficulties that arise from public goods.
  2. Students will understand the difficulties that arise from externalities.
  3. Students will understand how government intervention can improve market outcomes.

Assessment:

  1. Passing grade on chapter assignments and final exam.

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