May 26, 2022  
2021-2022 Catalog 
2021-2022 Catalog [ARCHIVED CATALOG]

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ECON 103 - Introductory Economics

Credits: 3
Lecture Contact Hours: 3
Description: This course is a survey of the macroeconomic concerns of national income determinations, business cycles, unemployment, inflation and both fiscal and monetary policies to stabilize the aggregate economy. In addition, this course explores the microeconomic fundamentals of demand, supply, elasticity, consumer choice, the production costs of output and resource allocation of firms operating under various market structures and the international economy.

Prerequisites: MATH 047  or a minimum score of 19 ACT-Math, 25 SAT-Math, 75 CPT-Arithmetic, 28 CPT-Elementary Algebra, 260 NGA-Arithmetic or 230 NGA-Quantitative Reasoning, Algebra and Statistics.
Corequisites: None.
Recommended: None.

Course Category: Liberal Arts | Social Science
This course counts toward Schoolcraft’s General Education Requirements.
This course counts toward a Michigan Transfer Agreement General Education Requirement.

This Course is Typically Offered: Fall, Winter
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