Economics Department



AA-T Degree in Economics in Fall 2017

Check the details about the new degree in 2017-18 Catalog (Page 82).

The Department of Economics is now offering 3 exciting courses in addition to our Principles Courses, ECON1 AND ECON2.

An introduction to the basic principles of economics and their application to problems of environmental quality and natural resource utilization. Topics covered will include market failures, sustainable resource allocation, environmental degradation, pollution, and a rationale of government involvement in the market-based economy. Emphasis is on sustainability and the importance of including the environmental impact into the cost-benefit analysis of economic activities.
An introduction to the economics of various public policy issues. Contemporary issues and the role of government will be evaluated and analyzed by the student. Topics to be discussed include the minimum wage, rent control, drug prohibition, health care, Social Security, international trade, organ markets, impact of sports stadiums, discrimination and freedom of association, education, fiscal and monetary policy, property rights and the environment, and antitrust policy.

An introduction to Behavioral Economics contrasted to conventional economics. Topics covered include why people often behave irrationally compared to the predictions of conventional economics, loss-avoidance, emotions, experiences, social norms, framing, endowment effect, the brain, fairness, ethics, morals, trust, satisficing, status, herding, anchors, animal spirits, heuristics, irrational exuberance, why smart people make investment mistakes, mental accounting, game theory, blurring social and financial arrangements, value of nudging people to make superior decisions, charitable donations, and happiness (money isn’t everything).

Why Study Economics

As a subject committed to the improvement of the human condition, economics (the "Science of Scarcity") is the study of how resources are used to satisfy human wants.

Because economics blends quantitative analysis characteristic of physical sciences with the more qualitative methods associated with the social sciences, students of economics develop a unique reasoning ability that provides a vital perspective on social issues.

Our students bring their valued skills to business, government and community endeavors, and so provide service and vision in the pursuit of our shared interests.

Student Learning Outcomes for Principles of Macroeconomics (ECON 1):

After successfully completing this course, it is expected that a student is able to

  • Demonstrate how choices are made in the real world given limited resources.
  • Demonstrate a basic understanding of the workings of the US Economy and its institutions in a Global Context.
  • Critique existing economic theories about Business Cycles in Light of historical and current economic perspectives
  • Evaluate fiscal and monetary policy responses to macroeconomic instabilities such as unemployment, inflation and economic growth.
Student Learning Outcomes for Principles of Microeconomics (ECON 2):

After successfully completing this course, it is expected that a student is able to

  • Evaluate whether market efficiency exists using the supply and demand model..
  • Demonstrate the knowledge about the way perfectly competitive markets work and what happens in the presence of imperfect market structures, including monopoly, monopolistic competition and oligopoly.
  • Identify instances of market failure including externalities such as pollution and evaluate alternative strategies to improve outcomes, including private solutions.
  • Apply the tools of Economic Analysis including opportunity cost and thinking at the margin to understand firms’ as well as consumers’ decision-making process
  • .







Contact: Ms. Ravjeet Singh
Office: F-21M
Phone: (408) 864-8558




Last Updated: 9/24/17