Overview
The purpose of the course is to introduce students to the basic analytical principles and tools of modern economics, and to illustrate how these can be used to help understand observed economic phenomena, contemporary economic problems, and government economic policies.
The organization of the course reflects the division of the discipline into two main branches: microeconomics and macroeconomics. Microeconomics (Econ 110A and Econ 111) deals with the behavior of individual economic agents (households, firms and governments), the determination of prices and quantities in individual markets for commodities and resources, and with the role of governments in the functioning of the market system.
Macroeconomics (Econ 110B and Econ 112) studies the determination of aggregate economic quantities, such as the level of national output (and its rate of growth), the level of total employment and the rate of unemployment, and the average price level and rate of inflation. Macroeconomics also examines how government policies influence the aggregate behavior and performance of the economy.
Learning Outcomes
By the end of the course, student will be able to:
- Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems, and government economic policies.
- Explain how resources are allocated and income is distributed in an economy.
- Describe and model the behaviour of economic agents, including households, firms, and governments, and explain how these behaviours affect the determination of prices and quantities in individual markets for commodities and resources.
- Describe and model the relationships between aggregate economic variables, including national output, the level of aggregate consumption and investment, interest rates, employment and unemployment, and the average level and rate of change of all prices.
- Explain how government policies influence the aggregate behaviour and performance of an economy.
Topics
- Module 1: Introduction
- Module 2: Supply and Demand
- Module 3: Consumer Behaviour
- Module 4: Producer Theory
- Module 5: Ouput Markets
- Module 6: Trade and Protectionism
- Module 7: Factor Markets
Terms
Evaluation
30% - Practice Assignments (myLab) (best 5 of 7)
30% - Discussion and Reflection Activities (x2)
40% - Proctored Final Exam
*Evaluation Subject to Change*
Live Sessions
This course has optional live sessions (e.g. webinars, synchronous activities).
Proctored Exams
If a student is enrolled in ONLY online courses (section 700), they may choose either of the following options to write the exam:
- Write the final exam online: you will write in onQ with Examity proctoring. A $100 online exam fee will be charged to your SOLUS account.
- Write the final exam in-person: you will write on Queen’s campus in Kingston. You will not be charged an extra fee to write on campus.
If a student is enrolled in ANY in-person courses (section 001, 002, etc), you MUST write all your final exams in-person on Queen’s campus, including for an online course. You may not choose to write your exams online.
Location and Timing of Final Exams
Once the exam schedule has been finalized the exam date will be posted on your SOLUS account. The exam dates for each Term are listed in the Academic Calendar. Student exam schedules for the Fall Term are posted via SOLUS immediately prior to the Thanksgiving holiday; for the Winter Term they are posted on the Friday before Reading Week, and for the Summer Term they are individually noted on the Arts and Science Online syllabi. Students should delay finalizing any travel plans until after the examination schedule has been posted. Exams will not be moved or deferred to accommodate employment, travel/holiday plans or flight reservations.
Textbook and Materials
ASO reserves the right to make changes to the required material list as received by the instructor before the course starts. Please refer to the Campus Bookstore website at http://www.campusbookstore.com/Textbooks/Search-Engine to obtain the most up-to-date list of required materials for this course before purchasing them.
Course Notes
Students will obtain their lesson notes, assignments, and any supplementary material from the course onQ site beginning the first day of term.
Required Textbooks
All the required readings for the course are contained in the textbook and its related website MyEconLab:
- Microeconomics, 17th Canadian Edition, with MyLab Economics Access Code by Ragan, Christopher
Included with your text is a subscription to the MyEconLab site. This site contains many exciting features including self-testing facilities, video links, and a complete e-book.
This textbook has proven itself for many years and in many countries to be one of the best first year economics texts. It contains all of the material presented in a modern form with superb diagrams to aid the learning process.
Time Commitment
A course such as this on campus would have three lecture hours per week, usually with an assignment to follow. Students can expect to spend, on average, about 10 - 12 hours per week (120 hours per term) on the course.
Evaluation
30% - Practice Assignments (myLab) (best 5 of 7)
30% - Discussion and Reflection Activities (x2)
40% - Proctored Final Exam
*Evaluation Subject to Change*
Live Sessions
This course has optional live sessions (e.g. webinars, synchronous activities).
Proctored Exams
If a student is enrolled in ONLY online courses (section 700), they may choose either of the following options to write the exam:
- Write the final exam online: you will write in onQ with Examity proctoring. A $100 online exam fee will be charged to your SOLUS account.
- Write the final exam in-person: you will write on Queen’s campus in Kingston. You will not be charged an extra fee to write on campus.
If a student is enrolled in ANY in-person courses (section 001, 002, etc), you MUST write all your final exams in-person on Queen’s campus, including for an online course. You may not choose to write your exams online.
Location and Timing of Final Exams
Once the exam schedule has been finalized the exam date will be posted on your SOLUS account. The exam dates for each Term are listed in the Academic Calendar. Student exam schedules for the Fall Term are posted via SOLUS immediately prior to the Thanksgiving holiday; for the Winter Term they are posted on the Friday before Reading Week, and for the Summer Term they are individually noted on the Arts and Science Online syllabi. Students should delay finalizing any travel plans until after the examination schedule has been posted. Exams will not be moved or deferred to accommodate employment, travel/holiday plans or flight reservations.
Textbook and Materials
ASO reserves the right to make changes to the required material list as received by the instructor before the course starts. Please refer to the Campus Bookstore website at http://www.campusbookstore.com/Textbooks/Search-Engine to obtain the most up-to-date list of required materials for this course before purchasing them.
Required Textbooks
eText: Ragan, Christopher T.S., Microeconomics: 17th Canadian Edition. (Pearson, 2023).
Courseware: MyLab Economics on the Pearson website (subscription included with etext).
Time Commitment
Students can expect to spend, on average, about 10 - 12 hours per week (120 hours per term) on the course.