Skagit Valley College logo

Catalog Course Search Details

 Course Title:   Introduction to Economics

 Title Abbreviation:   INTRO TO ECONOMICS

 Department:    ECON

 Course #:    101

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    450601

 EPC:    n/a

 REV:    2017

 Course Description  

Introduction to basic principles of macro and micro economics for the non-major. Areas covered include supply and demand, the determination of equilibrium prices and quantities, types of production costs, economic growth, unemployment, fiscal policy and monetary policy.


Prerequisite: Appropriate placement or grade of 2.0 or higher in ENGL 099.

Additional Course Details

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Academic Social Sciences  

Equivalencies At Other Institutions

Other Institution Equivalencies Table
Institution Course # Remarks

Learning Outcomes

After completing this course, the student will be able to:

  1. Understand how economics affects the decision-making of individuals and businesses. Use economic principles to help make informed, objective and rational choices. Understand how economics fits into the scheme of the entire economy and its relationships. Use basic economic principles.

General Education Learning Values & Outcomes

Revised August 2008 and affects outlines for 2008 year 1 and later.

1. Information Literacy

Definition: Recognizing when information is needed and have the ability to locate, evaluate, and use effectively the needed information.

Outcomes: Students will be able to . . .
1.1 Determine the extent of information needed.

2. Critical Thinking

Definition: The ability to think critically about the nature of knowledge within a discipline and about the ways in which that knowledge is constructed and validated and to be sensitive to the ways these processes often vary among disciplines.

Outcomes: Students will be able to . . .
2.1 Identify and express concepts, terms, and facts related to a specific discipline.
2.3 Identify, interpret, and evaluate pertinent data and previous experience to reach conclusions.
2.4 Evaluate decisions by analyzing outcomes and the impact of actions.
2.9 Apply and/or create problem-solving strategies to successfully adapt to unpredictable and/or changing environments.

6. Individual Awareness & Responsibility

Definition: Understanding, managing, and taking responsibility for one’s learning and behavior in varied and changing environments.

Outcomes: Students will be able to . . .
6.1 Identify ethical and healthy choices and apply these personally, socially, academically, and professionally.

8. Mathematical Reasoning

Definition: Understanding and applying concepts of mathematics and logical reasoning in a variety of contexts, both academic and non-academic.

Outcomes: Students will be able to . . .
8.1 Analyze problems to determine what mathematical principles apply.
8.2 Correctly apply logical reasoning and mathematical principles to solve problems.
8.3 Interpret information and reasoning expressed mathematically (for example in spreadsheets, diagrams, charts, formulas, etc.).
8.4 Communicate mathematical information effectively.

Course Contents

  1. Resources and scarcity
  2. Structure of economic systems that exist in the world
  3. Basic economic questions
  4. Supply and demand for goods and services
  5. Supply and demand for labor
  6. Business firms and their operation
  7. Economic growth and productivity
  8. Government's role in our economy - (Fiscal and monetary policy)
  9. Gross Domestic Product (GDP)
  10. Inflation/recession/depression/business cycles
  11. Global economics
  12. Money and banking
  13. Taxation
  14. Consumer economics - (savings and personal investing)