Students registering in grouped study mode are advised that there may be some differences in the evaluation and course materials information indicated below. To obtain the most up-to-date information, contact the Faculty of Business Student Support Centre at 1-800-468-6531.
Overview
This course introduces you to microeconomics—the area of economics that deals with the behaviour of specific economic units (households and firms). Microeconomics focuses on the operation of the economy at the level of the units in which basic choices are made in the face of scarcity; therefore, it is primarily concerned with markets and prices.
The course as a whole is designed to allow you to gain the knowledge and skills you will need to accomplish the following objectives:
Describe how certain economic principles are derived.
Explain specific economic principles, and give examples of their application.
Select an appropriate principle and, given the relevant facts, apply it to derive a solution for an economic problem.
Outline
Unit 1: The Nature and Method of Economics
Unit 2: The Market Forces of Demand and Supply—The Basics
Unit 3: The Elasticity of Demand and Supply
Unit 4: Markets and Economic Welfare
Unit 5: The Economics of the Public Sector
Unit 6: The Costs of Production
Unit 7: Firms in Competitive Markets
Unit 8: Monopoly
Unit 9: Monopolistic Competition and Oligopoly
Unit 10: The Markets for the Factors of Production
Evaluation
To receive credit for ECON 247, you must receive a grade of D (50 percent) or better on the final examination, and achieve an overall grade of at least D (50 percent) for the entire course. Your final grade is determined by a weighted average of the grades you receive on the activities listed below. The weightings for each of these activities are as follows:
Activity
Weight
Complete by
Quizzes (10 @ 3% each)
30% of final grade
After each unit
Assignment 1
10% of final grade
After Unit 5
Midterm Examination
20% of final grade
After Unit 5
Assignment 2
10% of final grade
After Unit 10
Final Examination
30% of final grade
After Unit 10
Total
100%
The midterm and final examinations for this course must be requested in advance and written under the supervision of an AU-approved exam invigilator. Invigilators include either ProctorU or an approved in-person invigilation centre that can accommodate online exams. Students are responsible for payment of any invigilation fees. Information on exam request deadlines, invigilators, and other exam-related questions, can be found at the Exams and grades section of the Calendar.
To learn more about assignments and examinations, please refer to Athabasca University’s online Calendar.
Materials
Mankiw, N. G., Kneebone, R. D., & McKenzie, K. J. (2024). Principles of microeconomics (9th Can. ed.). Cengage. ISBN-13: 978-1-77841-176-2 (eText)
All other learning resources will be available online.
Challenge for credit
Overview
The challenge for credit process allows you to demonstrate that you have acquired a command of the general subject matter, knowledge, intellectual and/or other skills that would normally be found in a university-level course.
Full information about challenge for credit can be found in the Undergraduate Calendar.
Evaluation
To receive credit for the ECON 247 challenge registration, you must achieve a grade of at least D (50 percent) on the examination.
Athabasca University reserves the right to amend course outlines occasionally and without notice. Courses offered by other delivery methods may vary from their individualized study counterparts.