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Course Description

Arrangement of a glass globe paperweight, glasses, and a pen on charts

An introduction to the Canadian economy: price determination, market structure and resource allocation; the behaviour of consumers and firms; market intervention by government. Some of the economic issues addressed may include agricultural price supports, rent control, the NAFTA, environmental regulation, price discrimination, pay equity, and taxation.

Note: This course can be taken individually or as a part of a certificate program.

Learning Outcomes

By the end of the course, the learner should be able to:

  • Describe basic principles of microeconomics including demand and supply, utility and consumer choice, production and costs, market structure, market failures and government intervention, and factor markets
  • Demonstrate and discuss how basic economic models work
  • Analyze specific markets, including goods and services, housing and labour markets
  • Recognize the successes and failures of government intervention in the market
  • Explain the role of public policies, such as competition policy, environmental policy, and trade policy
  • Apply mathematical concepts and tools, such as computing the slope of a line or graphing the relationship between variables, to explain basic economic models and the interaction between economic variables
  • Apply the microeconomic principles to critically examine every day economic events
  • Apply basic problem solving techniques used in microeconomics, including techniques to calculate elasticity, determine the market equilibrium, and compute total, marginal, and average cost and product
  • Use graphical analysis to demonstrate and interpret various economic models, including the demand and supply model, market equilibrium determination, and the impact of government regulation on the economy

Course Topics

  • Supply and Demand: How Markets Work
  • Markets in Action: Government and Trade
  • Consumer Choice: Utility and Demand
  • The Firm: Production and Cost
  • Markets
  • Market Failures and Government Intervention
  • Markets for Factors of Production

Additional Requirements

Equate(s): ECON*1200

Assessment

Grading scheme with the Purchase of MyEconLab:

Assessment Item Weight
PEAR Assignment 8%
MyEconLab Quizzes 10%
Tests 27%
Online Final Exam 55%
Total 100%

Grading scheme without the Purchase of MyEconLab:
 

Assessment Item Weight
PEAR Assignment 10%
Tests 30%
Online Final Exam  
60%
Total 100%

 

Note:

Additional Technical Requirements

This course will use MyLab, a web-based tool created by Pearson Education. Visit their website to complete a check that ensures your computer meets the MyLab system requirements.

Webex is a video conferencing tool used to facilitate synchronous virtual meetings. You are responsible for ensuring that your computer system meets the necessary system requirements. You will need to have a microphone, headset or speakers, and a webcam to participate fully in Webex sessions.https://help.webex.com/en-us/nki3xrq/Webex-Meetings-Suite-System-Requirements

This course uses Zoom as a video communication tool. A Webcam, a microphone to record video, and headphones/speakers to play back the recording are also needed. In order to use Zoom, you must meet the following technical requirements:

  1. An internet connection – broadband wired or wireless (3G or 4G/LTE)
  2. Speakers and a microphone – built-in or USB plug-in or wireless Bluetooth
  3. A webcam or HD webcam - built-in or USB plug-in

This course will use the Respondus tool to invigilate one or more exams. In order to use Respondus LockDown Browser and Monitor, you must meet the following technical requirements:

  1. Operating Systems: Windows 10, 8, 7; Mac OS X 10.10 or higher.
  1. Memory: Windows 2 GB RAM; Mac 512 MB RAM.
  1. For Mac users: Safari must function properly on the computer.
  1. Mac users must have Adobe Flash Player installed to Safari, even if a different browser is normally used.
  1. Functioning webcam and microphone. The webcam and microphone can be built into your computer or can be the type that plugs in with a USB cable. (You will be required to do an environment scan of your room, so please ensure you can move your computer, laptop or webcam for this scan.)
  1. A broadband Internet connection. It is recommended that you access the Internet via a wired connection.

 

Applies Towards the Following Certificates

Technical Requirements

You are responsible for ensuring that your computer system meets the necessary system requirements. Use the browser check tool to ensure your browser settings are compatible and up to date (results will be displayed in a new browser window).

*Course details are subject to change.

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Enrol Now - Select a section to enrol in

Section Title
Introductory Microeconomics
Type
Online
Dates
September 10, 2020 to December 04, 2020
Contact Hours
36.0
Delivery Options
Online  
Course Fee(s)
Domestic Tuition Fee (0.5 units) $683.39 Click here to get more information
International Tuition Fee (0.5 units) $2,748.00 Click here to get more information
Available for Credit
0.5 units
Reading List / Textbook

Option 1:   eBook Package with MyLab & Smart Thinking includes:

  • Parkin & Bade: Microeconomics: Canada in the Global Environment Pearson eText, 10th Canadian Edition (2019)
  • Adomait and Maranta: Cocktail Party Economics eText
  • MyLab Economics
  • Smart Thinking

Option 2: MyLab Economics only package (no eText) includes:

  • MyLab Economics
  • Smart Thinking

 

Section Notes

If you are in a degree program at the University of Guelph, please DO NOT register using the link above.  You must register through WebAdvisor.

Important Note

If you purchase the package please do so through either of the campus bookstores. If you have access to used copies of the two required textbooks you are still strongly encouraged to purchase MyLabEconomics access. You can do so through the Course website or at the two campus bookstores.

MyLabEconomics Access Card is required for use in this course. This online learning and assessment tool is to be used in conjunction with the required textbook. The course grading scheme will be adjusted to accommodate students who choose not to purchase MyLabEconomics.

PEAR is used for this course. My EconLab from Pearson will be required for PEAR.

Section Materials
  • Textbook (Confirmed) (Mandatory) Option 1: eBook Package with MyLab & Smart Thinking ISBN 9780137352685
  • Textbook (Confirmed) (Mandatory) Option 2: MyLab Economics only package (no eText) ISBN 9780137352692
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