ECON 110
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Economic Principles and Problems
Course Description
Strengths and weaknesses of markets and governments for solving problems of social organization or conflict, including policy response to inflation, unemployment, pollution, poverty, growth, etc.
When Taught
Contact Department
Min
3
Fixed/Max
3
Fixed
3
Fixed
0
Note
Also offered by BYU Independent Study; enroll anytime throughout year; one year to complete; additional tuition required; register at is.byu.edu.
Title
Economic costs and benefits
Learning Outcome
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.
Title
Equilibrium analysis
Learning Outcome
Students will analyze market responses to changing environments using models of production possibilities, supply and demand, perfect competition, monopoly, and aggregate supply and demand.
Title
Measures of wellbeing
Learning Outcome
Students will compute and interpret metrics of economic wellbeing, including consumer and producer surplus, deadweight loss, gross domestic product, and the consumer price index.
Title
Efficiency
Learning Outcome
Students will compute measures of economic efficiency and demonstrate why perfectly competitive markets deliver efficient outcomes.
Title
Interventions
Learning Outcome
Students will identify inefficiencies that arise with market imperfections and analyze the effect of government interventions.
Title
Institutions
Learning Outcome
Students will interpret economic statistics and write effectively about economic terms and institutions, practicing to participate thoughtfully in civic discourse.
Title
Economic analysis
Learning Outcome
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.
Title
Spiritual applications
Learning Outcome
Students will explore spiritual insights from economic reasoning while also identifying contrasts between self-interested behavior and Christ-centered discipleship.
