Course Outline

ECON 210 : Microeconomics

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Last approved: Mon, 11 Jan 2016 19:35:54 GMT

Last edit: Mon, 11 Jan 2016 19:35:53 GMT

ECON 210-WW
Campus
Worldwide
College of Arts & Sciences (WARSC)
ECON
210
Microeconomics
3
This course is an introduction to the economic principles of free enterprise supply and demand, private and social implications of revenue maximization, cost minimization, profit maximization, market structure, and resource markets. Current microeconomic issues in aviation (such as elasticity, pricing, taxes, subsidies, market implications, liability reform, evolution of airline completion, etc.) are discussed.

The purpose of this course is to present the theory of price and output determination. The student will learn how to apply elementary microeconomic principles to domestic and international policies. In order to maintain student interest and better perform our mission, professors will utilize current aviation examples to illustrate these economic principles as frequently as possible.

Upon completion of the course, students will be able to:

1. Understand introductory economic concepts.

2. Recognize basic supply and demand analysis.

3. Recognize the structure and the role of costs.

4. Describe, using graphs, the various market models: perfect competition, monopoly, monopolistic competition, and oligopoly.

5. Explain how equilibrium is achieved, in the various market models, in both the long and short run.

6. Recognize how resource markets relate to the product markets.

7. Identify problem areas in the economy, and possible solutions, using the analytical tools developed in the course.

8. Recognize how all the parts of the economy integrate into the whole.

9. Recognize the international economy, and describe how it works.

10. Recognize the crucial use of elasticity theory in pursuit of revenue maximization, output efficiency, inter-commodity relationships and the impact of income changes.

Located on the Daytona Beach Campus, the Jack R. Hunt Library is the primary library for all students of the Worldwide Campus. The Chief Academic Officer strongly recommends that every faculty member, where appropriate, require all students in his or her classes to access the Hunt Library or a comparable college-level local library for research. The results of this research can be used for class projects such as research papers, group discussion, or individual presentations. Students should feel comfortable with using the resources of the library. 


Web & Chat: http://huntlibrary.erau.edu
Email:  library@erau.edu
Text: (386) 968-8843
Library Phone:  (386) 226-7656 or (800) 678-9428
Hourshttp://huntlibrary.erau.edu/about/hours.html
 

Written assignments must be formatted in accordance with the current edition of the Publication Manual of the American Psychological Association (APA) unless otherwise instructed in individual assignments.

ActivityPercent of Grade
Input Grading Item100

Undergraduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
0 - 60% F

Graduate Grade Scale

90 - 100% A
80 - 89% B
70 - 79% C
0 - 69% F
Kelly Whealan George - 3/25/2015
Kelly.George@erau.edu
Kelly Whealan George - 3/25/2015
Kelly.George@erau.edu
Alan Bender - 3/25/2015
Alan.Bender@erau.edu
Dr. James Schultz – 3/25/2015
schul9fd@erau.edu
Key: 88