Economics (ECON) 247

Microeconomics (Revision 9)

ECON 247 course cover

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Delivery Mode: Individualized study online with eTextbook

Credits: 3

Area of Study: Social Science

Prerequisite: None

Faculty: Faculty of Business

ECON 247 has a Challenge for Credit option.

Télé-université du Québec equivalency: ECO 1300.

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**Note: Students registering in grouped study mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the Faculty of Business Student Support Centre at 1-800-468-6531.


ECON 247 introduces you to microeconomics—the area of economics that deals with the behaviour of specific economic units (households and firms). Microeconomics 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.


  • Unit 1: The Nature and Method of Economics
  • Unit 2: The Market Forces of Demand and Supply—The Basics
  • Unit 3: The Elasticity of Demand and Supply
  • Unit 4: Markets and Economic Welfare
  • Unit 5: The Economics of the Public Sector
  • Unit 6: The Costs of Production
  • Unit 7: Firms in Competitive Markets
  • Unit 8: Monopoly
  • Unit 9: Monopolistic Competition and Oligopoly
  • Unit 10: The Markets for the Factors of Production


To receive credit for ECON 247, you 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:

10 Quizzes (3% each) Assignment 1 Midterm Exam Assignment 2 Final Exam Total
30% 10% 20% 10% 30% 100%

To learn more about assignments and examinations, please refer to Athabasca University's online Calendar.

Course Materials


Registration in this course includes electronic textbooks. For more information on electronic textbooks, please refer to the eText Initiative site.

Mankiw, N. G., Kneebone, R. D., & McKenzie, K. J. (2014). Principles of microeconomics (6th Cdn. ed.). Toronto: Nelson Education Ltd. ISBN: 978-0-17-653086-0

Manouchehri, S., & Fortura, P. (2014). Study Guide for use with Principles of microeconomics (6th Cdn. ed.). Toronto: Nelson Education Ltd. ISBN: 978-0-17-656062-1

A print version of the eTexts can be purchased from the publisher through a direct-to-student link provided in the course website; you can also acquire the textbooks on your own if you wish.

Other Resources

All other learning resources will be available online.

Challenge for Credit Course Overview

The Challenge for Credit process allows students to demonstrate that they have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university level course.

Full information for the Challenge for Credit can be found in the Undergraduate Calendar.

Challenge Evaluation

To receive credit for the ECON 247 challenge registration, you must achieve a grade of at least “D” (50 percent) on the examination.

Paper Exam (4 hours)

Undergraduate Challenge for Credit Course Registration Form

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.

Opened in Revision 9, April 10, 2014.

View previous syllabus

Updated January 06 2017 by Student & Academic Services