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ECON 110
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Economic costs and benefits
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Equilibrium analysis
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Measures of wellbeing
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Efficiency
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Interventions
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Institutions
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Economic analysis
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Spiritual applications
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Course Outcome
Program Outcomes
Economic costs and benefits
Students will compute measurements of costs (e.g. opportunity costs, marginal cost) and benefits (e.g. marginal utility, revenue), and use them to evaluate economic decisions.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Equilibrium analysis
Students will analyze market responses to changing environments using models of production possibilities, supply and demand, perfect competition, monopoly, and aggregate supply and demand.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Measures of wellbeing
Students will compute and interpret metrics of economic wellbeing, including consumer and producer surplus, deadweight loss, gross domestic product, and the consumer price index.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Efficiency
Students will compute measures of economic efficiency and demonstrate why perfectly competitive markets deliver efficient outcomes.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Interventions
Students will identify inefficiencies that arise with market imperfections and analyze the effect of government interventions.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Institutions
Students will interpret economic statistics and write effectively about economic terms and institutions, practicing to participate thoughtfully in civic discourse.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Economic analysis
Students will practice positive analysis of models (stating assumptions, deriving logical implications, and confronting those with evidence) to reason objectively about public policy, preparing for lifelong service and civic engagement.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters
Spiritual applications
Students will explore spiritual insights from economic reasoning while also identifying contrasts between self-interested behavior and Christ-centered discipleship.
Integrate Business with Experience Design
Conduct Design Research
Design Intentional Experiences
Lead, Manage, and Implement Experiences
Demonstrate Impact That Matters