Catalog 2019-20

# Economics

## Associate Degree for Transfer

### A.A.-T. in Economics

The Associate in Arts degree in Economics for Transfer provides students with a major that fulfills the general requirements of the California State University for transfer. Students with this degree will receive priority admission with junior status to the California State University system. The Associate in Arts degree in Economics for Transfer (AA-T) may be obtained by the completion of 60 transferable, semester units with a minimum 2.0 GPA, including (a) the major or area of emphasis described in the Required Program outlined below (earning a C or better in these courses) and (b) either the Inter-segmental General Education Transfer Curriculum (IGETC) or the California State University General Education Breadth Requirements.

#### Degree Requirements

Course Code Course Title Units
ECON 302 Principles of Macroeconomics 3
ECON 304 Principles of Microeconomics 3
ECON 310 Economic Statistics  (3) 3 - 4
or PSYC 330 Introductory Statistics for the Behavioral Sciences  (3)
or STAT 300 Introduction to Probability and Statistics  (4)
MATH 341 Calculus for Business and Economics  (4) 4 - 5
or MATH 400 Calculus I  (5)
ACCT 301 Financial Accounting  (4) 3 - 5
or ACCT 311 Managerial Accounting  (4)
or MATH 401 Calculus II  (5)
or CISC 310 Introduction to Computer Information Science  (3)
ECON 306 Environmental Economics  (3) 31
or AGB 321 Agriculture Economics  (3)
Total Units: 19 - 23

1or any course not used in List A

#### Student Learning Outcomes

Upon completion of this program, the student will be able to:

PSLO 1: Describe and apply basic economic principles and concepts to economic issues. This includes the ability to: • Analyze graphical and numerical representations of resource allocation in the presence of scarcity. • Analyze graphical and numerical representations of a microeconomic and macroeconomic equilibrium using the tools of supply and demand and aggregate supply and aggregate demand analysis.

PSLO 2: Demonstrate the use of numerical methods to quantify common terms used in economics. This includes an ability to: • Calculate GDP and economic growth rates. • Calculate unemployment rates. • Calculate inflation rates using a price index. • Calculate profits, total cost, variable cost, and fixed cost.

PSLO 3: Demonstrate the ability to think critically and analyze solutions to major economic questions. This includes an ability to: • Analyze the strengths and weaknesses of major macroeconomic policy tools including fiscal and monetary policy. Evaluation of Monetary and Fiscal Policy will focus on the impact on unemployment, GDP, and inflation. • Comparing perfectly competitive markets and imperfectly competitive markets and their effect on profits, prices and quantities produced. •

PSLO 4: Discuss the global nature of economic issues. This includes an ability to: • Describe the common features of international trade as it is related to GDP. • Analyze different international trade theories and their implications for specialization.

## Economics (ECON) Courses

### ECON 100 Introduction to Economics

Units: 3

Hours: 54 hours LEC

Prerequisite: None.

This course introduces the purpose, terminology, and basic concepts of economic theory. It examines the fundamental economic problem of scarcity and describes how our society is organized to deal with scarcity. It considers some of the problems (unemployment, inflation, national debt, poverty, crime, pollution, etc.) that economic theory may help explain.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO 1: Understand basic terminology used in Economics. This includes:

### ECON 300 Survey of Economics

Units: 3

Hours: 54 hours LEC

Prerequisite: None.

Transferable: CSU; UC

This course introduces the purpose, terminology, and basic concepts of economic theory. It examines the fundamental economic problem of scarcity and describes how our society is organized to deal with scarcity. It considers some of the problems our economy faces (unemployment, pollution, taxes, inflation, national debt, poverty, crime, international trade, etc.) and how economic theory can be used to investigate these pressing issues.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO 1: Demonstrate an understanding of basic terminology used in Economics.

### ECON 302 Principles of Macroeconomics

Units: 3

Hours: 54 hours LEC

Prerequisite: MATH 100; or MATH 102; or one year of High School Elementary Algebra with a grade of C or better; or equivalent skills as determined through the assessment process.

Advisory: MATH 120 or MATH 125 with a grade of "C" or better; or one full year of High School Algebra II with grades of "C" or better in each semester; or equivalent skills demonstrated through the assessment process.

Transferable: CSU; UC

CID: C-ID ECON 202

This course is a graphical and functional analysis of the economy as a whole. It focuses on the economy's well-being, problems, and possible solutions. Major topics include: basic economic analysis, demand, supply, and equilibrium in a market; macroeconomic sectors, goals, and problems (unemployment, inflation, business cycle, and government budget deficit); the economy's output, income, and price level; aggregate demand, aggregate supply, and equilibrium; and macroeconomic policies (fiscal and monetary). Time permitting, related topics such as international trade, international finance, and economic growth may also be discussed. Course work includes doing arithmetic problems, solving algebraic equations, and graphing straight and curvilinear lines.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO 1: Describe and apply basic economic principles and concepts to macroeconomic issues. This includes the ability to:

### ECON 304 Principles of Microeconomics

Units: 3

Hours: 54 hours LEC

Prerequisite: MATH 100; or MATH 102; or one year of High School Elementary Algebra with a grade of C or better; or equivalent skills as determined through the assessment process.

Advisory: MATH 120 or MATH 125 with a grade of "C" or better; or one full year of High School Algebra II with grades of "C" or better in each semester; or equivalent skills demonstrated through the assessment process.

Transferable: CSU; UC

CID: C-ID ECON 201

This course is a graphical and functional analysis of the units (sectors) making up the economy. The focus is on the sectors’ choices and interactions, microeconomic goals (efficiency and equity), problems, and solutions. Major topics include basic principles of economics; basic economic analyses; demand, supply, and equilibrium in a market; markets and applications; costs and production; product and resources markets; and microeconomic problems (externalities, public goods, and income inequality). Time permitting, related topics such as international trade and health economics may also be discussed. Course work includes doing arithmetic problems, solving algebraic equations, and graphing straight and curvilinear lines.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO 1: Describe and apply basic economic principles and concepts to microeconomic issues. This includes the ability to:

### ECON 306 Environmental Economics

Units: 3

Hours: 54 hours LEC

Prerequisite: None.

Advisory: MATH 120 or MATH 125 with a grade of "C" or better; or one full year of High School Algebra II with grades of "C" or better in each semester; or equivalent skills demonstrated through the assessment process.

Transferable: CSU; UC

This course focuses on the application of economic principles to help understand and manage the relationship between humans and the environment. The central theme is that there are competing demands for our limited natural resources, including the waste assimilation capacity of the environment, necessitating that difficult choices be made regarding how those resources are used. The course illustrates how resources are allocated in a market economy, potential problems from a social perspective with that allocation, and alternative solutions for reallocating resources to achieve more socially desirable outcomes. Issues such as efficiency and externality, benefit-cost analysis, and alternative policy instruments for pollution control are examined. Topics related to global warming, California water resources, and other current environmental policy issues will be discussed as time permits.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

Describe and apply basic economic principles and concepts to environmental issues (SLO-1).This includes the ability to:

### ECON 310 Economic Statistics

Units: 3

Hours: 54 hours LEC

Prerequisite: MATH 120 or 125 with a grade of "C" or better, or equivalent skills demonstrated through the assessment process.

Transferable: CSU; UC

CID: C-ID MATH 110

This course focuses on statistical concepts commonly used in economics, business and other behavioral sciences. It covers the collection, organization, presentation, analysis, and interpretation of numerical data. Major topics include organizing and describing data using graphs, tables, and charts; calculating and interpreting descriptive statistics including measures of central tendency and measures of dispersion; probability and sampling distributions; statistical inference; correlation and linear regression; analysis of variance, chi-square and t-tests. Computer software and/or hand calculations will be used in this course to calculate, organize and display statistical information. Results generated either by hand calculation, the use of computer software, articles or textbook examples will be used to analyze and interpret statistical findings.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO1: Define common statistical terms.

### ECON 320 Concepts in Personal Finance

Units: 3

Same As: BUS 320

Hours: 54 hours LEC

Prerequisite: None.

Transferable: CSU

This course is designed to assist individuals in analyzing their financial affairs. Elements and conceptual basis of financial planning, analysis, and decision making in areas of budgeting, taxes, borrowing, money management, insurance, investments, and retirement will be examined
with an emphasis on principles to develop students’ economic decision making. Students will be using mathematical concepts as well as reading and interpreting written and oral instructions. The course provides a solid base for a career in financial planning services. This
course is the same as BUS 320, and only one may be taken for credit.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO #1: DEMONSTRATE COMPREHENSION IN ECONOMIC PRINCIPLES AND PLANNING, AS INDICATED BY COURSE OUTCOMES OF THE SUBJECT AREA.

### ECON 495 Independent Studies in Economics

Units: 1 - 3

Hours: 54 - 162 hours LAB

Prerequisite: None.

Transferable: CSU

An independent studies project involves an individual student or small group of students in study, research, or activities beyond the scope of regularly offered courses. See the current catalog section of "Special Studies" for full details of Independent Studies.

#### Student Learning Outcomes

Upon completion of this course, the student will be able to:

SLO #1: Actively engage in intellectual inquiry beyond that required in order to pass a course of study (College Wide Learning Outcome – Area 4).

### Full-time Faculty

 Edwin Fagin Office: BS 138 Phone: (916) 691-7304 E-mail: fagine@crc.losrios.edu Eric Granquist Office: SOC 105 Phone: (916) 691-7312 E-mail: granque@crc.losrios.edu Amy M Leung Office: SOC 113 Phone: (916) 691-7428 E-mail: leunga@crc.losrios.edu