Download NONCREDIT COURSE OUTLINE: HSECN 10 Last Revised and Approved: 11/06/2009

NONCREDIT COURSE OUTLINE: HSECN 10
Last Revised and Approved: 11/06/2009
HSECN 10 - ECONOMICS
Total Hrs Lecture
50.00
0.00
Total Hrs Lab
Total Course Hrs
Total Student Hrs
High School Credits
COURSE DESCRIPTION
This course introduces students to the basic economic principles of microeconomics and macroeconomics. Topics include
international economics, comparative economic systems, measurement, and methods. This course satisfies the economics
requirement for graduation.
ENROLLMENT RESTRICTIONS
PREREQUISITES
COREQUISITES
ADVISORIES
OUTLINE OF COURSE CONTENT
The course will address the following topics:
I. Common economic terms, concepts, and economic reasoning
A. Causal relationship between scarcity and the need for choices
B. Opportunity cost, marginal benefit, and marginal cost
C. Differences between monetary and nonmonetary incentives and how changes in incentives cause changes in behavior
D. Role of private property as an incentive in conserving and improving scarce resources, including renewable and nonrenewable
natural resources
E. Role of a market economy in establishing and preserving political and personal liberty (e.g., through the works of Adam Smith).
II. Elements of America’s market economy in a global setting
A. Relationship of the concept of incentives to the law of supply and the relationship of the concept of incentives and substitutes to
the law of demand
B. Effects of changes in supply and/or demand on the relative scarcity, price, and quantity of particular products
C. Roles of property rights, competition, and profit in a market economy
D. How prices reflect the relative scarcity of goods and services and perform the allocation function in a market economy
E. Process by which competition among buyers and sellers determines a market price
F. Effect of price controls on buyers and sellers
G. How domestic and international competition in a market economy affects goods and services produced and the quality, quantity,
and price of those products
H. Role of profit as the incentive to entrepreneurs in a market economy
I. Functions of the financial markets
J. Economic principles that guide the location of agricultural production and industry and the spatial distribution of transportation and
retail facilities.
III. Influence of the federal government on the American economy
A. How the role of government in a market economy often includes providing for national defense, addressing environmental
concerns, defining and enforcing property rights, attempting to make markets more competitive, and protecting consumers’ rights
B. Factors that may cause the costs of government actions to outweigh the benefits
C. Aims of government fiscal policies (taxation, borrowing, spending)and their influence on production, employment, and price levels
D. Aims and tools of monetary policy and their influence on economic activity (e.g., the Federal Reserve).
IV. Elements of the U.S. labor market in a global setting
A. Operations of the labor market, including the circumstances surrounding the establishment of principal American labor unions,
procedures that unions use to gain benefits for their members, the effects of unionization, the minimum wage, and unemployment
insurance
B. Current economy and labor market, including the types of goods and services produced, types of skills workers need, effects of
rapid technological change, and impact of international competition
MIRACOSTA COLLEGE
HSECN 10 COURSE OUTLINE
--FOR COMPLETE OUTLINE OF RECORD SEE MCC WEBCMS DATABASE-Page 1 of 3
50.00
99.50
5.00
NONCREDIT COURSE OUTLINE: HSECN 10
Last Revised and Approved: 11/06/2009
C. Wage differences among jobs and professions, using the laws of demand and supply and the concept of productivity
D. Effects of international mobility of capital and labor on the U.S. economy.
V. Aggregate economic behavior of the U.S. economy
A. Differences between nominal and real data
B. Definition, calculation, and explanation of the significance of an employment rate, the number of new jobs created monthly, an
inflation and deflation rate, and a rate of economic growth
C. Difference between short-term and long-term interest rates and their relative significance.
VI. Issues of international trade and how the U.S. economy affects, and is
affected by, economic forces beyond U.S. borders
A. Gains in consumption and production efficiency from trade, with emphasis on the main products and changing geographic
patterns of twentieth century trade among countries in the Western Hemisphere
B. Reasons for and the effects of trade restrictions during the Great Depression compared with present-day arguments among labor,
business, and political leaders over the effects of free trade on the economic and social interests of various groups of Americans
C. Changing role of international political borders and territorial sovereignty in a global economy
D. Foreign exchange, the manner in which exchange rates are determined, and the effects of the dollar’s gaining (or losing) value
relative to other currencies.
PERFORMANCE OBJECTIVES
Upon successful completion of this course, students will be able to do the following:
1). Define common economic terms and concepts and explain economic reasoning
2). Analyze the elements of America’s market economy in a global setting
3). Assess the influence of the federal government on the American economy
4). Evaluate the elements of the U.S. labor market in a global setting
5). Assess the aggregate economic behavior of the U.S. economy
6). Compare and contrast the way the U.S. economy affects economies beyond its borders and is in turn affected by international trade.
ASSIGNMENTS
Assignments will be consistent with, but not limited by, the following types and examples:
1). You and your group are hypothetically stranded on an island with limited
supplies. Develop a plan to make choices and divide scarce resources, and
explain how scarcity influenced your choices.
2). Research a real world drastic change in price of a good or service. Analyze
and present to the class the ways in which scarcity affected the price.
3). Create a chart illustrating the many roles government may take in a
market economy.
4). Read and take notes on pro-union and anti-union arguments. Prepare to argue
for either position. (Each student will be assigned a position before the
in-class debate and will be asked to argue the alternate position as well.)
5). Plot the changing geographic patterns of trade among countries in the
Western Hemisphere during the twentieth-century.
Outside-of-class assignments are required and may include, but will not be limited to, the following:
1). Read and take notes on the ideas of Adam Smith. Write a first-person
narrative persuasive letter as Adam Smith explaining to a young person why
a market economy is central to preserving political and personal freedom.
2). List the factors that may cause the cost of government actions to outweigh
the benefits. Research an historical event that illustrates your point to
present to the class.
3). Make a chart showing wage differences among at least 10 jobs and
professions. On your chart, describe how the laws of supply and demand and
the concept of productivity influence the wage differences.
4). Write a letter to a family friend who is coming to the United States to
work. Define, calculate, and explain the significance of the unemployment
MIRACOSTA COLLEGE
HSECN 10 COURSE OUTLINE
--FOR COMPLETE OUTLINE OF RECORD SEE MCC WEBCMS DATABASE-Page 2 of 3
NONCREDIT COURSE OUTLINE: HSECN 10
Last Revised and Approved: 11/06/2009
rate, the number of new jobs created monthly, the inflation or deflation
rate,and the rate of economic growth so the friend can evaluate his or her
choice.
5). Research and analyze the reasons for and effects of trade restrictions
during the Great Depression. Write a persuasive paper giving advice to
Presidents Hoover and Roosevelt either supporting their decisions to
restrict trade or advising a more open trade policy.
STUDENT LEARNING OUTCOMES
Learning Outcome
Mode of Assessment
1. Students distinguish between economics terms comparing
and contrasting core concepts.
1. Essay question
2. Students analyze the elements of competing world views in
the global economy.
2. Essay question
3. Students apply economic principles to hypothetical situations
analyzing the economic principle in a factual context.
3. Essay question
METHODS OF INSTRUCTION
Instructional methodologies will be consistent with, but not limited by, the following types or examples:
1). Lecture
2). Use of lab to research economic issues
3). Use of media (radio, TV, newspapers, Internet) to analyze current economic
issues.
METHODS OF EVALUATION
Evaluation methodologies will be consistent with, but not limited by, the following types or examples:
1). Comprehension questions and problems based on text
2). Exams and quizzes
3). Report writing
4). Participation in and contributions to group projects.
REQUIRED TEXTBOOKS
Examples of typical textbooks for this course include the following:
1). O'Sullivan, Arthur, and Steven M. Sheffrin. Economics: Principles in Action. Prentice Hall, 2005. ISBN: 978-0131816855
OTHER REQUIRED INSTRUCTIONAL MATERIALS
1). Supplemental economic source material
2). Media (radio, TV, newspaper articles, Internet)
COURSE REPEATABILITY
Total Completions Allowed:
In Combination With:
1
MIRACOSTA COLLEGE
HSECN 10 COURSE OUTLINE
--FOR COMPLETE OUTLINE OF RECORD SEE MCC WEBCMS DATABASE-Page 3 of 3