ecn 106-3 code no.: semester · course name ecn 106-3 code no. vi. required student resources:...

SAULT COLLEGE OF APPLIED ARTS AND TECHNOLOGYSAULT STE. MARIE, ONTARIO

COURSE OUTLINE

Introduction to EconomicsCOURSE TITLE:

ECN 106-3CODE NO.:

Winter 1992SEMESTER:

AviationPROGRAM:

Larry JacklinINSTRUCTOR:

January 1992DATE:

September 1991PREVIOUS OUTLINE DATED:

APPROVED:DE

q/- / (). -IIDATE

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INTRODUCTION TO ECONOMICSCOURSE NAME

ECN 106-3CODE NO.

TOTAL CREDIT HOURS: 45

PREREQUISITE(S): NONE

I. Philosophy/Goals:The general aim of this course is to enable students to think ineconomic terms; to help them realize the enormous complexity ofman's economic endeavour and to extend their outlook to thematerial and international scene.

II. Student Performance Objectives:Upon successful completion of this course the student will:

a. define basic economic concepts as related to the text to anacceptable introductory level.

b. recognize the economic interdependence of the world'snations to a general level of understanding.

c. appreciate the major economic issues in our society such asunemployment and inflation, as well as the programs andregulations for dealing with these issues.

d. know ~he roles of Governments, Banks, and Businesses as theyrelate to matters of economic concern, as outlined withinthe text.

III. Topics To Be Covered:1. The Market Economy2. Government Involvement in the Economy3. Economic Indicators and National Income4. Banking in Canada5. Stabilization policies6. International Economics7. Business and industry

IV. Learning Activities

Text - Working withEconomics

1. Introduction to Economics

Upon successful completion of this unitthe student will be able to:

a. explain the meaning of the termeconomics and differentiatebetweenvarious economic systems

Read IntroductoryConcepts -

Chapter 1, pp. 1 - 24Questions: pp. 24 -25

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2. The Operation of a Market

Upon suc~essful completion of this unitthe student will be able to:

a. describe the economic concepts ofsupply and demand with the freemarket system.

b. comprehend the idea of elasticitydemand and supply

3. The Role of Government in a MarketEconomy


a. discuss the origins of the freemarket system.

b. understand possible imperfections~ithin the market system and see howgovernment attempts to correct theseimperfections through price ceilingsand floors.

c. describe the views of leadingeconomists, past and present ongovernment involvement in the economy.

4. Government in Canada


a. relate the sources of governmentspending and revenue in Canada.

5. Economic Indicators


a. understand how unemployment,inflation, and business activityare measured in Canada.

ECN 106-3CODE NO.

Read Chapter #2pp . 27 - 68Questions: pp. 68 - 70

Read Chapter #3pp . 7 1 - 96Questions: pp. 96 - 98

Read Chapter #4pp. 99 - 122Questions: pp. 123

Read Chapter #5pp . 12 5 - 15 6

Questions: pp. 156157

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6. Determinationof National Income


a. describe how gross domestic productis arrived at.

b. describe the components of aggregatesupply and demand.

d. discuss aspects of the multipliereffect on the economy.

7. Money and Banking


a. outline how the demand and supplyof money is regulated through banking.

b. differentiatebetween various typesof bank deposits in Canada.

G. understand how monetary policy affectseconomic conditions.

8. Stabilization Policy


a. describe how government fiscal policyaffects unemploYment and inflation inCanada.

b. define supply-side economics.c. understand the process of wage and

price controls.d. detail government manpower policies

since 1960.

ECN 106-3CODE NO.


187

Read Chapter #7pp. 189 - 224Questions: pp. 224 -225


257

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9. International Economics


a. explain the law of comparativeadvantage.

b. describe the advantages and dis-advantages of Free-Trade and theCanada-U.S. Auto-Agreement.

c. relative the objects of G.A.T.T.d. relate how international trade affects

Canada's Balance of Payment.

10. Industrial Organization In Canada


a. differentiatebetween the types ofbusiness ownership.

b. discuss the advantages and dis-advantages of small business andfranchising.

c. describe the role of entrepreneursin the Canadian economy.

d. discuss the impact of foreignownership in Canada.

11. The Pricing of Resources


a. discuss the factors that will causethe demand ~urve for labour toshift.

b. discuss the detriments of theelasticity of demand for labour.

c. describe graphically how wages aredetermined.

d. describe union attempts to increasewages through collective bargaining.

ECN 106 -3CODE NO.


300



-6-INTRODUCTION TO ECONOMICSCOURSE NAME

ECN 106-3CODE NO.

V. Evaluation Methods:(includes assignments, Attendance requirements, etc.)

5 tests 90 %Attendance & Participation 10 %

Total 100%

The grading system will be as follows:

A+ = 90 - 100%A = 80 - 89%B = 70 - 79%C = 60 - 69%I = IncompleteR = Unsatisfactory - below 60% (course must be repeated)

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INTRODUCTIONTO ECONOMICSCOURSE NAME

ECN 106-3CODE NO.

VI. Required Student Resources:Hird, H. Richard. WorkingFramework. 2nd ed., Toronto.1988.

with Economics - A CanadianCollier-MacMillan Canada Inc.,

VII. Additional Resource MaterialsThese will be provided by the instructor, re hand-outs, videos,etc.

VIII. Special NotesStudents will be expected to participate in all class-roomactivities.

Students will be required to complete all-questions at the endof each chapter of the text.

Students will lose 1 mark for each day of class missed, withouta valid excuse (e.g. Doctor's note).

ecn 106-3 code no.: semester · course name ecn 106-3 code no. vi. required student resources:...

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