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Catalog Description Formerly known as ECON 0001B Prerequisite: Placement as determined by the college’s multiple measures assessment process or completion of a course taught at or above the level of elementary algebra Hours: 54 lecture Description: An introductory course using microeconomic models to understand individual decisions by consumers and firms, market outcomes including market failure, elasticity, market structures, labor markets, inequality, and the impact of government policies. (C-ID ECON 201) (CSU, UC) Course Student Learning Outcomes CSLO #1: Analyze the basic principles underlying the economic way of thinking. CSLO #2: List and distinguish basic economic terms. CSLO #3: Analyze the supply and demand model. CSLO #4: Apply critical thinking skills to evaluate the credibility of economic theories, concepts, and research. CSLO #5: Analyze marginal productivity theory. Effective Term Fall 2026 Course Type Credit - Degree-applicable Contact Hours 54 Outside of Class Hours 108 Total Student Learning Hours 162 Course Objectives Perform and interpret microeconomic calculations. Apply microeconomic models to analyze market outcomes, including market failures and government policies. Model how consumers and firms make decisions under a variety of market structures. General Education Information Approved College Associate Degree GE Applicability AA/AS - Social Sciences AA/AS - Social and Behavioral Sciences CSU GE Applicability (Recommended-requires CSU approval) CSUGE - D2 Economics Cal-GETC Applicability (Recommended - Requires External Approval) IGETC Applicability (Recommended-requires CSU/UC approval) IGETC - 4B Economics Articulation Information CSU Transferable UC Transferable Methods of Evaluation Classroom Discussions Example: To assess students’ ability to analyze and apply microeconomic principles in real-world contexts through active participation in class discussions. Scenario: During a unit on market equilibrium and government intervention, students are asked to discuss the effects of rent control policies on housing markets. Students are evaluated on: 1. Understanding of Economic Concepts Demonstrates clear understanding of supply and demand, price ceilings, and market shortages. 2. Application to Real-world Examples Integrates current or historical examples of rent control (e.g., New York City or San Francisco). Connects theory to real-world outcomes like housing shortages or black markets. 3. Critical Thinking and Analysis Presents multiple perspectives (e.g., landlords vs. tenants). Critically evaluates trade-offs and unintended consequences. Essay Examinations Example: Students are required to write a 2-3 page paper analyzing a recent article published in the Wall Street Journal, connecting it to the concepts, topics, and theories presented in the textbook as they relate to the economic way of thinking. Objective Examinations Example: Students are asked the following question as part of an objective exam: The price elasticity of demand measures the: A) responsiveness of quantity demanded to a change in quantity supplied. B) responsiveness of price to a change in quantity demanded. C) responsiveness of quantity demanded to a change in price. D) responsiveness of quantity demanded to a change in income. Problem Solving Examinations Example: Students are asked to calculate the average total cost, average variable cost, and marginal cost of production from a selection of input combinations. Projects Example: Students will choose a real-world market (e.g., ride-sharing, streaming services, fast food, electric vehicles) and analyze it using microeconomic concepts. The analysis should cover: Market Overview – Description of the product/service, major firms. Supply and Demand Analysis – Trends, factors shifting curves, and equilibrium price/quantity. Market Structure – Identify if it's perfect competition, monopoly, oligopoly, or monopolistic competition. Government Role – Identify any regulations, taxes, subsidies etc Conclusion & Recommendation – Predictions and suggestions based on microeconomic reasoning. Repeatable No Methods of Instruction Lecture/Discussion Distance Learning Lecture: Instructor presents (via lecture, PowerPoint slides and/or the whiteboard) the market structure of Perfect Competition, and the associated underlying assumptions. The students are asked whether they think the perfectly competitive market is an appropriate model to represent modern capitalist economies. Distance Learning The instructor presents the concept of Opportunity Cost (via lecture, PowerPoint slides and/or the whiteboard). Students are asked to analyze their personal Opportunity Costs associated with taking Economics 1B (on the LMS discussion board for online sections), leading to an extended discussion. Typical Out of Class Assignments Reading Assignments 1. Read the chapter on Economics and Economic Reasoning. Be prepared to discuss in class. 2. Read the chapter on Perfect Competition. Be prepared to discuss in class. Writing, Problem Solving or Performance 1. State the law of demand. Why is price inversely related to quantity demanded for a typical demand curve? 2. Write a 2-3 page paper analyzing an article published in the Wall Street Journal this semester, connecting it to the concepts, topics, and theories presented in the textbook. Other (Term projects, research papers, portfolios, etc.) Required Materials Principles of Economics Author: Taylor, Timothy Publisher: OpenStax College Publication Date: 2017 Text Edition: 2nd Classic Textbook?: OER Link: OER: Economics Author: Colander, David Publisher: McGraw-Hill Publication Date: 2019 Text Edition: 11th Classic Textbook?: OER Link: OER: The Economy Today Author: Schiller, Bradley R. Publisher: McGraw-Hill Publication Date: 2018 Text Edition: 15th Classic Textbook?: OER Link: OER: Principles of Economics Author: Mankiw, N. G. Publisher: Cengage Learning Publication Date: 2018 Text Edition: 8th Classic Textbook?: OER Link: OER: Economics Author: Arnold, R., Arnold, D Publisher: Cengage Learning, Mason, OH Publication Date: Text Edition: 2023 Classic Textbook?: OER Link: OER: Economics Author: Colander, D Publisher: McGraw-Hill Irwin, New York Publication Date: Text Edition: 2019 Classic Textbook?: OER Link: OER: Principles of Economics Author: Stevenson, B. & Wolfers, J Publisher: Worth, New York Publication Date: Text Edition: 2023 Classic Textbook?: OER Link: OER: Principles of Economics Author: Coppock, L. & Mateer Publisher: Norton Publication Date: Text Edition: 2023 Classic Textbook?: OER Link: OER: Modern Principles of Economics Author: Cowen, T., & Tabarrok, A. Publisher: Worth, New York Publication Date: Text Edition: 2021 Classic Textbook?: OER Link: OER: Economics for today Author: Tucker, I. B Publisher: Cengage Learning, Mason, OH Publication Date: Text Edition: 2023 Classic Textbook?: OER Link: OER: Other materials and-or supplies required of students that contribute to the cost of the course.