This course is designed to acquaint the student with economic issues of the day (e.g., inflation and recession as they affect family and national income). Students will recognize relationships among prices, wages, profits, and supply and demand as they influence daily lives. Course satisfies program prerequisite of economics for master's degree programs.

Not required

Upon completion of this course students will be able to follow the more in-depth economic analysis that is included in the course "Economics for Entrepreneurs". Students will be able to extend the analyses of this course to more rigorous analysis involving demand-supply analysis, scarcity and choice, consumerism, and producers' choice.

Entrance Competencies

It is assumed that students entering the course:

1) Have completed college algebra or some similar basic mathematics course.
2) Know how to work with graphs and functional relationships.
3) Are able to relate economic concepts to real-world situations.
4) All students entering this course should be computer literate, familiar with Microsoft Office 97 or 2000 Software, have unrestricted access to a personal computer, and have the ability to communicate effectively in written English.

Exit Competencies

Upon completing this course, students will:

1) Have developed an understanding of basic economic concepts and be ready to apply them to more rigorous decision-making situations in the marketplace.
2) Be able to use mathematical analysis in various decisions of sectors of the economy.
3) Have an understanding of the process of decision-making.
4) Have a better understanding of the extent to which resources are limited and the importance of optimal decision-making.
5) Distinguish between the different "elasticity's" of demand.
6) Define and explain opportunity cost.
7) Relate the different types of compensation to the factors.
8) Distinguish between market forms based on the degree of competition.
9) Explain the relationship between a factor of production productivity and its compensation.

1. Required Materials


1. Textbooks

The Economy Today - 11.Edition - 2008
Bradley Schiller
McGraw-Hill
ISBN: 0073511269



APA Manual
Effective October 1^st 2009, the 6th edition of the APA Manual is required for all courses.

NSU Bookstore
Textbooks and Case Studies may be purchased from the NSU Bookstore (located in the University Park Plaza) by calling 1-800-509-2665 or online at http://www.nsubooks.bkstore.com.



2. Recommended Materials

Textbook Website
http://highered.mcgraw-hill.com/sites/0072471123/information_center_view0/

The NSU libraries comprise the Alvin Sherman Library, Research, and Information Technology Center, East Campus Branch Library, Health Professions Division Library, Law Library and Technology Center, North Miami Beach Branch Library, University School Library Media Centers, and the William S. Richardson Ocean Science Library. Students are strongly encouraged to visit one of the physical locations and/or take advantage of the vast electronic library available for research. For more information, please visit http://www.nova.edu/library.

Please note that all required and recommended materials should be referenced in APA style.