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Master Syllabus

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Administrative Unit: Business Administration Department
Course Prefix and Number: ECON 294
Course Title: Microeconomics
Number of:
Credit Hours 3
Lecture Hours 3
Lab Hours 0
Catalog Description:

Introduction to specific economic units and to individual markets and individual interactions within an economy. Prerequisite: Sophomore standing. G.E.

Prerequisite(s) / Corequisite(s):

Sophmore standing.

Course Rotation for Day Program: Offered Fall and Spring.
Text(s): Most current editions of the following:

By McConnel & Brue (McGraw-Hill)
Economics Today: The Micro View
By Miller (Pearson)
Microeconomics: Principles and Tools
By O'Sullivan & Sheffrin (Pearson)
Principles of Microeconomics
By Case & Fair (Pearson)
Microeconomics: Principles and Policy
By Baumol & Blinder (Thomson/South Western)
By Acemoglu, Laibson, List (Pearson)
Principles of Microeconomics
By Krugman & Wells (Worth)
By Colander (McGraw-Hill)
Course Learning Outcomes
  1. Draw supply and demand curves and manipulate these curves when explaining changes in product markets.
  2. Explain the concept of elasticity, including price elasticity of demand, price elasticity of supply, income elasticity, and cross-price elasticity and the use of these concepts in explaining the response of supply and demand.
  3. Describe the concepts of production and cost in both the short run and long run; explain the relationship between production and cost outcomes.
  4. Identify the four types of market structure and describe the characteristics of each; explain how cost, price, efficiency, and profit relate to each of these market structures.
  5. Describe and explain government involvement in the economy to eliminate market failures; describe the impact of government action of efficiency and equity
Major Topics/Skills to be Covered:

This course includes a written and/or oral presentation component.

  • Define economics
  • Supply and demand
  • Elasticity
  • Consumer choice
  • Production and cost decisions
  • Market structures
  • Demand for resources
  • Taxes, government, and market imperfections
  • Anti-trust policy and regulation
  • Economics of health care

Recommended maximum class size for this course: 35

Library Resources:

Online databases are available at the Columbia College Stafford Library.  You may access them using your CougarTrack login and password when prompted.

Prepared by: Diane Suhler Date: January 27, 2016
NOTE: The intention of this master course syllabus is to provide an outline of the contents of this course, as specified by the faculty of Columbia College, regardless of who teaches the course, when it is taught, or where it is taught. Faculty members teaching this course for Columbia College are expected to facilitate learning pursuant to the course learning outcomes and cover the subjects listed in the Major Topics/Skills to be Covered section. However, instructors are also encouraged to cover additional topics of interest so long as those topics are relevant to the course's subject. The master syllabus is, therefore, prescriptive in nature but also allows for a diversity of individual approaches to course material.

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