EC 115 Outline of Economics

Provides an overview of micro- and macroeconomics. The U.S. economic system is discussed from both national and individual perspectives. Discusses topics such as supply and demand, national accounting, monetary policy, fiscal policy, productivity, market models, income, wealth and taxation.




Offered Fall and Spring


Lower Division Transfer (LDT) Course

General Education Requirements

AGS Social Science, AAOT Social Sciences,


Upon successful completion of this course, students will be able to:
Define standard terms used by economists including: microeconomics, scarcity, macroeconomics, inflation, (inter) national accounting, balance of payments, and trade deficits. Use the supply and demand model to predict how price and quantity changes with variations in consumer wants and producers output. Show how the four market models of perfect competition, monopolistic competition, oligopoly, and monopoly influence prices and quantities of goods produced. Explain the concept of Gross Domestic Product. Describe and contrast monetary and fiscal policy. Explain and calculate the multiplier effect.