ECON 101(F,S) Introduction to Economics

An introduction to economic analysis that stresses its value in understanding current issues of social and public policy. The central theme is how and why markets work, why they may fail to work, and the implications for social policies of both their successes and failures. Among the markets to be examined are the market for human labor that largely determines who is poor and who is affluent, the markets for goods, the markets for clean air and water, and the market for national product that largely determines employment, inflation, and growth. The course emphasizes the basic elements of orthodox economic analysis, but also includes discussion of the limitations to orthodox analysis and alternative ways in which economic issues can be approached. This course is required of majors and highly recommended for those non-majors interested in understanding current economic, political, and social problems. The department recommends that students follow 101 with an economics course numbered from 201 to 240. These courses reinforce the concepts of the introductory course and apply those concepts within a particular policy field. Enrollment limited to 40 per section.

Hour: First Semester: BAKIJA, STAHNKE Second Semester: BROWNING, FRANKL