'BUSC' -- Economics Courses
 
   
 

 
BUSC 1B Course Image

BUSC 1B - Principles of Economics
                  - Microeconomics
                  (3 units)
This course presents economic analysis with emphasis on price and distribution theory, scarcity, opportunity costs, supply, demand, elasticity of supply and demand, consumer's behavior, cost theory and output determination under various market structures, factor markets, public choice, income distribution, externalities and government regulation, comparative economic systems, and international finance.
(CAN ECON 4)
(54 hours lecture;      Degree appropriate, CSU, UC)
Prerequisite:   BUSC 1A - Principles of Econonomics - Macroeconomics
                    or  BUSC 1AH - Principles of Econonomics - Macroeconomics - Honors

Course Measurable Objectives:

  1. Demonstrate basic tools of microeconomics analysis to show the price and output decisions with in the four basic market structures.
  2. Solve problems related to consumer and producer behavior both in product market and in factor market.
  3. Demonstrate the application of elasticities in real world phenomenon.
  4. Demonstrate the operation of market mechanism as it is applied to American economy.
  5. Apply microeconomic analysis to government policies relating to the welfare of market participants and income distribution.

Course Level Student Learning Outcomes:


Students completing BUSC 1B - Principles of Economics - Microeconomics will:
  1. correctly know producers' behavior to maximize their profit by allocating scarce resources to produce different commodities.
  2. correctly know consumers' behavior to maximize their utility in allocating scarce resources to satisfy thier infinite wants.
  3. be able to choose quantities of different commodities having different price tags by spending limited amount of money to maximize satisfaction
  4. be able to use producer's behavior to determine price of the product they produce under various market situations to maximize profit
NOTE:  Every effort is made to ensure the accuracy and timeliness of this information; however, students should consult the college catalog for the most current and accurate information regarding degrees, certificates, or courses.
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