Economics (Econ) 002: Introductory Microeconomics
This course is an introduction to microeconomic analysis and policy. The principal objective of the course is to enable students to analyze major microeconomic issues clearly and critically. Students will be introduced to the methods and tools of economic analysis, and these analytical tools will be applied to questions of current policy interest. Learning these methods and tools and applying them to interesting policy questions and issues is sometimes called "thinking like an economist." An important goal of this course is to take each student as far down the road of "thinking like an economist" as possible.
What will I learn in this course?
Upon successful completion of this course, the student will be able to:
1. Analyze major microeconomic issues clearly and critically
2. Be familiar with the methods and tools of economic analysis and how they are applied
3. Begin to think like an economist
This course meets the General Education Social and Behavioral Sciences (GS) and the Bachelor of Arts defree requirements. See your advisor if you have questions about how this course can be used in your program of study.
Are there any prerequisites for this course?
No specific classes are required before taking ECON 002.
I've never taken an online course before. What is it like?
This course is taught completely online. We'll use Penn State's course management system, ANGEL, for ECON 002, and you will be able to communicate with the professor and your classmates through chat, e-mail, and threaded discussions within ANGEL.
You do not need to come to campus at any time, and you do not need a proctor or remote testing site.
An online course, however, is not easier than on-campus course. In fact, it takes a lot more self-discipline. You must be willing and able to commit the same amount of time as you would for attending class and studying for a traditional course. You must also be a motivated, organized student who feels confident about reading to learn and who is comfortable working independently. If you're wondering whether an online course is right for you, take this short survey to find out more about how online learning is different.
What are the technological requirements for this course?
To complete this course, you must have the following equipment or capabilities:
- Have access to a computer that meets the ANGEL technological requirements.
- Have regular access to a scanner
- Internet access through a high-speed connection (IDSN, DSL, cable)
How is the course structured?
This online course runs for 15 weeks in the fall and spring semesters or 6 weeks in the summer, following the standard semester schedule. It is made up of 12 units spread throughout the semester. See a sample unit. There are also reading assignments in your textbook each week. There is an online multiple choice quiz in each unit as well as three exams. You must also complete six homeowrk assignments. The bulk of your grade in the course will be determined by your performance on the three exams. (During the condensed summer session, several units will be covered in one week.)
Where can I get more information?
For more information about ECON 002 Online, see a recent course syllabus. To register, visit the Office of the University Registrar. At the beginning of each semester, all enrolled students should access ECON 002 at the site of Penn State's course management system, ANGEL.
The supply and demand model describes how prices vary as a result of a balance between product availability and demand. The graph depicts an increase (that is, right-shift) in demand from D1 to D2 along with the consequent increase in price and quantity required to reach a new equilibrium point on the supply curve (S).
-Image Source: Wikipedia Images
Farmers Market: Carrots and other vegetables for sale at Ballard Sunday Farmers' Market, Ballard Avenue (historic district), Ballard, Seattle, Washington.
-Image Source: Wikipedia commons