Economics (ECON) 247
Microeconomics (Revision 5)

This version of ECON 247 closed February 28/03. To current version.

Delivery modes: Individualized study (May be offered online or online-enhanced. Confirm status before registering.). Optional video component.

Grouped study

e-Class® ** (Availability is subject to a minimum number of registrations. Students registered in an e-Class® offering that must be cancelled due to insufficient registrations will be notified by December 12 for January start dates and August 12 for September start dates.)
Credits: 3 - Social Science
Prerequisite: None
Centre: School of Business
Challenge for Credit: ECON 247 has a Challenge for Credit option
Télé-université du Québec equivalency: ECO 1015

**Note: Students registering in the e-Class® delivery should note that there may be some differences in the Evaluation and Course Materials information indicated below. To obtain the most up to date e-Class® information, contact the School of Business Call Centre at 1-800-468-6531.

>> Overview | Outline | Evaluation | Course Materials | Course Fees | Course Availability


Overview

ECON 247 is designed to introduce microeconomics—the area of economics concerned with the behaviour of specific economic units (households and firms). Microeconomics as a field of study focuses on the operation of the economy at the level of the units in which basic choices are made in the face of scarcity; it is, therefore, primarily concerned with markets and prices.

Outline

  • Unit 1 The Nature and Method of Economics
  • Unit 2 The Market System: The Basics of Demand and Supply
  • Unit 3 Applying the Principles of Supply and Demand
  • Unit 4 Further Topics in the Theory of Consumer Demand
  • Unit 5 The Cost of Production
  • Unit 6 Price and Output Determination: Pure Competition
  • Unit 7 Pure Monopoly: Control and Regulation
  • Unit 8 Price and Output Determination: Monopolistic Competition and Oligopoly
  • Unit 9 Supply and Demand of Resources
  • Unit 10 Wage Levels and Income Distribution

Evaluation

To receive credit for ECON 247, students must achieve a composite course grade of at least a "D" (50 percent) and a grade of at least 50 percent on the final examination. The weighting of the course assignments is as follows:

4 Quizzes
(5% each)		 2 Assignments
(15% each)		 Final Exam Total
20% 30% 50% 100%

Course Materials

Textbooks

McConnell, C. R., Brue, S .L., and Barbiero, T. P. (1999). Microeconomics, 8th Canadian ed. Toronto: McGraw-Hill Ryerson.

Walstad, W. B., Bingham, R. C., and Anderson, T. (1999). Study guide to accompany Microeconomics. 8th Canadian ed. Toronto: McGraw-Hill Ryerson.

Other material

The course materials include a student manual and two workbooks.

Athabasca University reserves the right to amend course outlines occasionally and without notice.
Courses offered by other delivery methods may vary from their individualized-study counterparts.

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Open in Revision 5: Nov. 28/00.
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This page was updated by G. Zahara