ECON 310 - Economics for Managers

Credits: 5
Variable Credit Course: No

Lecture Hours: 55
Lab Hours: 0
Worksite/Clinical Hours: 0
Other Hours (LIA/Internships): 0

Course Description: Investigate how fundamental economic concepts such as demand and supply, market structure, tradeoffs and external costs guide managerial decisions. Debate the role of government in managing the economy and research how interactions between political and economic choices impact consumer and organizational choices.

Prerequisite: Admission to BASM program and Dept. Chair permission.
Meets FQE Requirement: No
Integrative Experience Requirement: No

Student Learning Outcomes

Assess how fundamental economic concepts explain common managerial decisions by investigating their workplace application.
Assess the influence of governments on the economy and the marketplace by analyzing its role on areas such as inflation, employment, pollution, and health care.
Explain the role of regulation in markets by evaluating the common disconnect between what is economically efficient, socially desirable, and politically feasible.

Course Contents

Key differences in economics systems and the impact of those differences have on owners, managers, employees, customers, and other stakeholders.
Influence governments have on the outcomes and opportunities associated with production, trade, inflation, employment, and pollution both domestically and internationally.
Role of regulation in markets and the common disconnect between what is economically efficient, socially desirable, and politically feasible.
The socio-economic implications of the changing American demographic nationally and in Skagit Valley.
Different market structures, and explain their impact on competition and strategic interaction.
The relationship between cost, consumer choice, and pricing.
External costs and benefits associated with business activity, and develop strategies for lowering costs, increasing benefits, and managing trade-offs.

Instructional Units: 5