ECON-101: Introduction to Economics

Explore how scarcity, supply and demand, and government policy shape the economy in this online Introduction to Economics course. Learn to apply economic reasoning to personal finance, business strategy, and current issues like globalization and environmental policy.

Course Description

The Introduction to Economics course equips students with a comprehensive understanding of how individuals, businesses, and governments make decisions in a world defined by scarcity. Using Irvin B. Tucker’s Survey of Economics, 11th Edition, students will explore essential economic principles including supply and demand, production costs, market structures, money and banking, and government policies. The course emphasizes the role of economic models in explaining decision-making and real-world outcomes, helping learners connect theory to practice.

Students will examine key issues such as globalization, environmental policy, income distribution, and the trade-offs faced in personal financial choices. By analyzing both microeconomic and macroeconomic perspectives, learners will develop the ability to evaluate market outcomes, understand policy interventions, and interpret economic data.

Designed for those beginning their study of economics, this course balances foundational theory with real-world applications. By the end, students will be able to apply economic reasoning to everyday financial decisions, business strategies, and public policy debates, preparing them for more advanced study or career pathways in business, finance, public administration, or related fields.

Textbook: Survey of Economics, 11th Edition Irvin B. Tucker

Course Objectives

Explain the fundamental problem of scarcity and how it drives economic decision-making.

Analyze how supply and demand determine prices and quantities in different types of markets.

Evaluate the role of the government in addressing market failures and promoting economic stability.

Apply economic concepts to personal finance, business decisions, and public policy debates.

Compare and contrast different economic systems and market structures.

Interpret and use basic economic data to assess real-world issues.

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Course Contents

Introducing Economics

Producing with Limited Resources

Trade Between Nations

Supply, Demand, and Market Clearing

Applications of Demand and Supply

Productivity and the Cost of Production

Competitive Product Markets

Monopoly, Oligopoly, and Monopolistic Competition

Regulation and Antitrust Policy

Factor Markets: Inputs and Income Distribution

Labor Markets and Wages

Rent, Interest, and Profit

Government and Market Outcomes

Government Finance: Expenditures and Taxes

Environmental Economics and Externalities

Public Goods and Public Choice

Measuring National Output and Income

Business Cycles, Unemployment, and Inflation

Aggregate Demand and Aggregate Supply

Fiscal Policy and the Federal Budget

Money, Banking, and Monetary Policy

Economic Growth and Productivity

International Finance and Exchange Rates

Contemporary Economic Issues

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This course may be purchased individually or as part of the certificate programs listed below.

Applied Economics

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Business Administration

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ECON-101: Introduction to Economics

Single Course or Program Option

Applied Economics

Business Administration