Course content may be changed, term to term, without
notice. The information below is provided as a guide
for course selection and is not binding in any form,
and should not be used to purchase course materials.
PRINCIPLES OF ECONOMICS I (MICRO)
An introduction to the theory and history of free exchange and economic inquiry. Free market thought will be scrutinized from the perspective of the Christian understanding of human behavior and contrasted with other paradigms. Specific topics include examination of the “economic question,” the tools of economic analysis with focus on the applicability to the study or human behavior, the market process, demand and the consumer, cost and supply, market structure, government regulation, and resource demand and supply. RATIONALE
ECNC 213 teaches students how to make decisions among alternatives with various benefits and costs so that they can be successful consumers, business owners, and resource suppliers in the free market.
REQUIRED RESOURCE PURCHASE
Click the following link to view the required resources for the term in which you are registered: http://bookstore.mbsdirect.net/liberty.htm
ADDITIONAL MATERIALS FOR LEARNING
Computer with Internet access (broadband recommended)
Microsoft Word and PowerPoint
(Microsoft Office is available at a special discount to Liberty University students.)
MEASURABLE LEARNING OUTCOMES
Upon successful completion of this course, the student will be able to: A.
Apply basic economic thought to different situations, including some common business problems.
Apply economic principles to modern-day situations and recognize the flaws in “common wisdom” and how many people fail to consider unfavorable secondary effects.
Appreciate the limitations of economic theory when applied to the real world.
Demonstrate evaluative skills by measuring returns on investments and comparing various alternatives.
ECNC 213 Syllabus
Understand why free market capitalism is the best economic system.
Enhance oral/written communication skills, research skills, and critical thinking skills.
Use techniques such as marginal analysis, cost-benefit analysis, and present value analysis.
COURSE REQUIREMENTS AND ASSIGNMENTS
Textbook readings and chapter presentations
Discussion Board Forums (4)
In four Discussion Board Forums, students will research a topic, compose a thread discussing the topic in at least 3 paragraphs, and reply to two classmates’ threads in at least 1 or 2 paragraphs. Outside research (from the Liberty University Library or elsewhere) is required for each forum. In addition, students must adhere to APA style when formatting posts and citing sources. Each week a forum is assigned, the thread is due by Friday night, and the replies are due by Monday night.
Students will introduce themselves to the rest of the class, providing information such as where they live, their major and specialization, as well as any other interesting information they want to share. Class Introductions is due by the end of Module/Week 1.
Economic Statistics Reports (4)
In Modules/Weeks 2, 4, 6, and 8, students will complete an Economics Statistics Report (ESR). Each report must include five sections detailing specific parts of the economy such as the unemployment rate and the balance of trade. Full instructions are provided in the Assignment Instructions folder in Blackboard. Even though the ESRs are due in the even-numbered modules, students are advised to work on them during the other modules as well.
Students will take twelve quizzes covering each of the assigned chapters from the Gwartney textbook. Each quiz contains 10 multiple-choice questions, is openbook/open-notes, and must be completed in 60 minutes. The...
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