Fall 2019 Course Syllabi

Dakota College at Bottineau Course Syllabus Course Prefix/Number/Title: ECON 201: Principles of Microeconomics Number of credits: 3 Course Description: Nature, method, and scope of economic analysis; economic scarcity, resources, specialization of labor; supply-demand analysis; production and cost analysis; product and resource market structures; distribution of income; international trade. Pre-/Co-requisites: None Specific Course Objectives: • Apply the four core principles of economics to everyday decision making. • Understand the process buyers and sellers follow to make purchase and production decisions. • Define markets and equilibrium and analyze changing market conditions. • Discover how government intervention in markets impacts buyers, sellers, and efficiency. • Understand how comparative advantage drives international trade and compare outcomes when governments impose trade restrictions. • Explain how labor markets function and anticipate the effect of unions, certifications, and minimum wage laws • Identify various market structures and how they determine pricing and output decisions. • Describe various business strategies and note the influence on consumers and profits. • Analyze decision making under risk and uncertainty. Instructor: Linda Burbidge, PhD Office: Molberg 20 Office Hours: MW 1:00pm -3:30pm, TH 11:00am – 1:00pm, Or by appointment Phone : 228-5442 Email: Linda.Burbidge@dakotacollege.edu Lectur e/Lab Schedule: MWF 11:00am-11:5 0am in Nelson Science Center (NSC) 126 Textbook(s): Stevenson, B. and Wolfers, J. 2020. Principles of Micro conomics . Worth. I will provide access codes.