Course

Principles of Microeconomics

Faculty
Commerce & Business Administration
Department
Economics
Course Code
ECON 1150
Credits
3.00
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Method(s) Of Instruction
Lecture
Seminar
Course Designation
None
Industry Designation
None
Typically Offered
To be determined

Overview

Course Description
This course will provide the student with the principal elements of theory concerning the functioning of the price system, utility theory and consumer behaviour, production and costs, market structure, factor pricing and government microeconomic policy.
Course Content
  1. The nature of economics.
  2. An overview of the economy.
  3. The price system: demand, supply and price.
  4. Barriers to trade.
  5. Elasticity of demand and supply.
  6. Price controls.
  7. Household consumption behaviour:  marginal utility and/or indifference curve approaches.
  8. Production and cost:  short-run and long-run.
  9. Comparison of firms operating in different market structures.
  10. Factor pricing and the distribution of national income.
  11. Market failure and government intervention.
Learning Activities

Lecture and seminar.

Means of Assessment
Final Examination 30% - 40%
Term Examination(s) 30% - 70%
Assignments (2-4)   0% - 30%
Participation and/or Quizzes        0% - 10%
Total         100%

THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Learning Outcomes

At the end of the course, the successful student should be able to:

  1. apply the economic concepts of supply and demand to the process of price determination in both perfect and imperfect markets;
  2. explain household market behaviour and the derivation of an industry demand curve;
  3. evaluate the price and output implications of profit maximizing (loss minimizing) behaviour of firms under different demand, cost and market structure conditions, including the derivation of an industry supply curve;
  4. demonstrate the reasons for, and economic consequences of, various forms of government intervention in different markets.
Textbook Materials

Textbooks and Materials to be Purchased by Students

 

The main text is to be chosen from the following as determined by the instructor:

 

  • Allen, D.  Economic Principles:  Seven Ideas for Thinking…About Almost Anything, Latest Ed.  McInnis     Creek Press.

 

  • Ragan, C.  Economics, Latest Ed.  Pearson Ed. New York:  Harper & Row.  Mankiw, N.G. et al.  Principles of Microeconomis, Latest Ed.  Thomson Nelson.

 

  • Mankiw, N.G. et al.  Principles of Microeconomics, Latest Ed.  Thomson Nelson.

 

  • McConnell, Campbell R., Brue et al.  Economics, Latest Ed.  Toronto:  McGraw-Hill

                Ryerson Limited.

  

  • Parkin, Michael and Robin Bade.  Economics:  Canada in the Global Environment, Latest Ed.  Don Mills:  Addison-Wesley Publishers Limited.

 

  • Silberberg, E.  Principles of Microeconomics, Latest Ed.  Pearson Custom Publishing,

 

  • Or other textbook(s) as approved by the Economics Dept.,

 

        Supplementary materials may be chosen from the following, as determined by the instructor:

 

  • Kennedy and Dorosh.  Dateline Canada, Latest Ed.  Prentice-Hall Canada Inc.

 

  • Study guides for the above texts and the available software.

Requisites

Prerequisites

BC Pre-Calculus 11 OR currently active in one of the following:

PBD Accounting
PBD Advanced Human Resource Management
PBD Advanced Supply Chain Management
PBD International Supply Chain Management
PDD Accounting
PDD Accounting Studies
PDD Global Banking and Economics
PDD Human Resource Management
PDD International Business Management
PDD Supply Chain Management
PDD in Project Management

 

ECON 1101 recommended

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer Details for ECON 1150
Acsenda School of Management (ASM) ASM ECON 121 (3)
Alexander College (ALEX) ALEX ECON 103 (3)
Athabasca University (AU) AU ECON 247 (3)
BC Institute of Technology (BCIT) BCIT ECON 1150 (3) or BCIT ECON 2100 (3)
Camosun College (CAMO) CAMO ECON 103 (3)
Capilano University (CAPU) CAPU ECON 111 (3)
College of New Caledonia (CNC) CNC ECON 201 (3)
Fairleigh Dickinson University (FDU) FDU ECON 2001 (3)
Kwantlen Polytechnic University (KPU) KPU ECON 1150 (3)
Langara College (LANG) LANG ECON 1220 (3)
North Island College (NIC) NIC ECO 110 (3)
Okanagan College (OC) OC ECON 115 (3)
Simon Fraser University (SFU) SFU ECON 103 (3)
Thompson Rivers University (TRU) TRU ECON 1XXX (3)
Trinity Western University (TWU) TWU ECON 201 (3)
University Canada West (UCW) UCW ECON 102 (3)
University of British Columbia - Okanagan (UBCO) UBCO ECON_O 101 (3)
University of British Columbia - Vancouver (UBCV) UBCV ECON_V 101 (3)
University of Northern BC (UNBC) UNBC ECON 100 (3)
University of the Fraser Valley (UFV) UFV ECON 100 (3)
University of Victoria (UVIC) UVIC ECON 103 (1.5)
Vancouver Community College (VCC) VCC ECON 1100 (3)
Vancouver Island University (VIU) VIU ECON 211 (3)

Course Offerings

Summer 2024

CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22011
Tue
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Matadeen
Instructor First Name
Allan
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Tue
Building
New Westminster - North Bldg.
Room
N4370
Start Time
18:30
-
End Time
21:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22012
Thu
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Matadeen
Instructor First Name
Allan
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Thu
Building
New Westminster - North Bldg.
Room
N4308
Start Time
9:30
-
End Time
12:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22046
Tue
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Matadeen
Instructor First Name
Allan
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Tue
Building
New Westminster - North Bldg.
Room
N4370
Start Time
12:30
-
End Time
15:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22104
Mon Wed
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Teng
Instructor First Name
Rosilyn
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Mon Wed
Building
New Westminster - North Bldg.
Room
N4360
Start Time
12:30
-
End Time
14:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22131
Mon Wed
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Teng
Instructor First Name
Rosilyn
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Mon Wed
Building
New Westminster - North Bldg.
Room
N4360
Start Time
14:30
-
End Time
16:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22457
Wed
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Matadeen
Instructor First Name
Allan
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Wed
Building
New Westminster - North Bldg.
Room
N4360
Start Time
9:30
-
End Time
12:20
CRN
Days
Dates
Start Date
End Date
Instructor
Status
CRN
22570
Tue Thu
Start Date
-
End Date
Start Date
End Date
Instructor Last Name
Xia
Instructor First Name
Bianjun
Course Status
Open
Max
Enrolled
Remaining
Waitlist
Max Seats Count
35
Actual Seats Count
0
35
Actual Wait Count
0
Days
Building
Room
Time
Tue Thu
Building
New Westminster - North Bldg.
Room
N4360
Start Time
9:30
-
End Time
11:20