[ECO 204] Economics-Micro

Introduction

Students will learn how the economy works by solving quantitative problems and using graphs to illustrate the relationship between economic variables. Students will apply economic theory in the analysis of current economic issues. After taking this course, students will be familiar with economic terminology which will make the business news easier to understand. This course will provide students with tools that can be applied to the enhancement of their personal economic situation. Finally, it will provide them with the necessary foundation for further course work in the field of economics.

Description

UW Colleges Catalog Course Description for ECO 204: Economics-Micro - 3 credits. Emphasizes the micro economic approach concerning households, firms and market structures with a focus on price determination and distribution of income. Foreign trade and international financial institutions are included. Designed for students who desire a basic one-year course (with ECO 203) in economics. This course fulfills the UWC requirement for Social Sciences (SS).

Prerequisites: MAT 105 and ENG 101 or consent of instructor recommended.

This course will focus on enhancing the students' understanding of

  • the basic economic problem of scarcity,
  • the supply and demand model,
  • ntNational income accounts,
  • fiscal and monetary policy,
  • the operation of the Federal Reserve System, and
  • microeconomic policy application to the analysis of current economic problems.

Proficiencies

Institutional proficiencies assigned to this course

Successful completion of this course will enhance students' ability to

  • interpret and synthesize information and ideas;
  • analyze and evaluate arguments;
  • solve quantitative and mathematical problems;
  • interpret graphs, tables, and diagrams;
  • read, observe, and listen with comprehension and critical perception;
  • demonstrate a large and varied vocabulary.

Requirements

In addition to homework assignments, students will have group discussion assignments during the semester. Individual assignments are designed to provide students with insights to the key concepts covered in each chapter of the textbook. Group assignments are designed to foster working relationships within a team atmosphere. Such working relationships are common in the workplace and in academia, so it is important to start developing those skills now!

Software

  • Microsoft Word and Excel.

    The most current edition of MS Office (containing MS Word, Excel and other valuable programs) is available to University of Wisconsin students at discounted prices through the Wisconsin Integrated Software Catalog.

About the Instructors

  • Hanafiah Harvey
    Associate Lecturer, Business-Economics
    BSc, Southern New Hampshire University
    MBA, Southern New Hampshire University
    MA, Old Dominion University
    PhD, University of Wisconsin
  • Julie Urban
    Assistant Professor, Business/Economics
    BA, Valparaiso University
    MA, University of New Mexico
    PhD, University of New Mexico