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Course Content
Module I
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Topic 1: Economic Problem
00:00
LO1: Explain the relationship between Economic Principles and everyday life
00:00
LO2: Identify the three basic economic questions and how various economic systems answer them
00:00
LO3: Comprehend the theories established by the founder of modern economics
00:00
Topic 2: Demand and Supply
00:00
LO1: Comprehend the nature of demand, changes in quantity demanded, and the factors that affect demand
00:00
LO2: Understand the nature of supply, changes in quantity supplied, changes in supply, and the factors that affect supply
00:00
LO3: Explain how markets reach equilibrium
00:00
Topic 3: Competition and Government
00:00
LO1: Describe price elasticity of demand and its impact on sellers’ revenues
00:00
LO2: Comprehend the price elasticity of supply and the links between production periods and supply
00:00
LO3: Identify how price elasticities of demand and supply determine the impact of an excise tax
00:00
LO4: Explain how governments use price controls to override the “invisible hand” of competition
00:00
Topic 4: Cost of Production
00:00
LO1: Identify economic costs (explicit and implicit) of production and economic profit
00:00
LO2: Recognize Short-run products, and the Law of diminishing marginal returns
00:00
LO3: Explain Long-run results of production and Long-run costs
00:00
Topic 5: Perfect Competition
00:00
LO1: Distinguish the four market structures
00:00
LO2: Explain how Perfect Competitive Markets adjust in the long run
00:00
LO3: Understand the Profit-maximizing and its rule
00:00
LO4: Comphrend the theory of Perfectly competitive firms and Markets
00:00
Quiz 1
01:00:00
Topic 6: Monopoly and Imperfect Competition
00:00
LO1: Describe the demand conditions faced by monopolists, monopolistic competitors, and oligopolists
00:00
LO2: Distinguish how monopolists, monopolistic competitors, and oligopolists maximize profits
00:00
LO3: Recall the key elements of the Prisoner’s Dilemma
00:00
Topic 7: Economic Welfare and Income Distribution
00:00
LO1: Explain the concepts of Consumer surplus and Deadweight loss
00:00
LO2: Distinguish Spillover costs and benefits
00:00
LO3: Summarize how Income is distributed among Canadian households, how this distribution is measured
00:00
LO4: Identify the causes of poverty and the way poverty is measured
00:00
Topic 8: Measures of Economic Activity
00:00
LO1: Explain why economists choose to concentrate on Gross Domestic Product
00:00
LO2: Distinguish other Economic measures developed from the national income accounts
00:00
Topic 9: Inflation and Unemployment
00:00
LO1: Explain the Consumer Price Index and Real GDP
00:00
LO2: Define Inflation, how it is measured, and its effect on nominal and real incomes
00:00
LO3: Comprehend the Official unemployment rate, and the different types of Unemployment
00:00
Topic 10: Economic Fluctuations
00:00
LO1: Explain Aggregate demand and the factors that affect it
00:00
LO2: Distinguish Aggregate supply and the factors that influence it
00:00
LO3: Understand the Economy’s equilibrium and how it differs from its potential
00:00
LO4: Define Economic growth its sources, and its impact
00:00
LO5: Summarize Canada’s historical record of economic growth
00:00
Quiz 2
01:00:00
Topic 11: Fiscal Policy
00:00
LO1: Identify Expansionary and Contractionary fiscal policies
00:00
LO2: Explain the Multiplier effect of fiscal policy, as determined by the marginal propensities
00:00
LO3: Distinguish Budget surpluses and deficits and their impact on public debt and public debt charges
00:00
Topic 12: Money
00:00
LO1: Comprehend the functions of Money and its components
00:00
LO2: Understand the Demand and Supply of money and equilibrium in the money market
00:00
LO3: Explain how Money is created and define the Money multiplier
00:00
Topic 13: Monetary Policy
00:00
LO1: Discuss the Bank of Canada and its functions
00:00
LO2: Explain the tools the Bank of Canada uses to conduct monetary policy
00:00
LO3: Identify the tradeoff between Inflation and Unemployment
00:00
Topic 14: Foreign Sector
00:00
LO1: Define and distinguish different types of Bank accounts in Canada
00:00
LO2: Understand Exchange rates and how they are determined
00:00
LO3: Summarize Exchange rate systems and their evolution
00:00
Final Exam
0/2
Course End Feedback
00:00
Final Exam: Principles of Economics
02:00:00
BA_ECON 100: Principles of Economics (P)
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