ECNS 101B - Economic Way of Thinking

Credit(s): 3

A critical study of social issues using the constructs of incentives and the role of markets and government policy, this course provides a framework of analytical tools useful in the analysis of contemporary social issues. The normative ramifications of government regulation and deregulation, market power, welfare policies, changing economic structures both in the U.S. and globally, and the implications of reliance on free markets to determine resource allocation and pricing are discussed in the context of economic analysis. (Fall and Spring Semesters)

Course Learning Outcomes: Upon completion of the course, students will be able to

Demonstrate the technique of economic thinking by applying the basic concepts of economics to the analysis of current social issues and public policies.
Understand how markets allocate resources, and be able to identify sources of market failure.
Identify and analyze the role of government in resource allocation from both efficiency and equity standards. Discern the positive from the normative in economic analyses of social issues and public policies.
Demonstrate various aspects of globalization from both the micro and macro perspectives.
Evaluate the legitimacy of multiple perspectives to reach an informed conclusion.