Principles of Microeconomics
This collection contains the California Open Educational Resources Council (CA OER) list of peer-reviewed textbooks for Principles of Microeconomics (common course-id ECON 201), one of the top 50 college courses identified for inclusion in the California Open Online Library for Education (COOLforEd).
General Course Description: ECON 201
This is an introductory course focusing on choices of individual economic decision-makers. Topics include scarcity, specialization and trade, market equilibrium, elasticity, production and cost theory, market structures, factor markets, and market failure.
Minimum Units: 3.0
Prerequisite(s): Elementary Algebra
Advisories/Recommendations: Intermediate Algebra
At the conclusion of this course, the student should be able to:
- Utilize the concept of scarcity to explain economic trade-offs, opportunity costs, and rational behavior.
- Calculate and interpret measures of elasticity.
- Demonstrate how markets function and what happens in the presence of market failures.
- Analyze production and costs of the firm.
- Demonstrate how firms attempt to optimize their objectives in response to price signals under a variety of market structures in the short and long-run.
Assessed written work is recommended for this course and may include any of the following (colleges are encouraged to work with local CSU and UC departments to determine writing requirements):
- Current event analysis
- Term papers
- Essay questions on exams
- Exams and Quizzes containing one or more:
- Multiple Choice questions
- Short answers
- Problem Solving
- Homework Problem Sets
- Debates and class discussion
- Group projects