In this opening topic, students will be introduced to the fundamentals of economics including some important concepts and terms that they’ll use throughout the course. They’ll begin by learning about the basic problem in economics and how that problem is solved under different economic systems, including the market system. They’ll also be introduced to the idea of an economic model.
Ohio TAG Social and Behavioral Sciences (OSS) Standards
Core OSS004 Outcome: Core skill demonstrated by students who successfully complete a Principles of Microeconomics Course
Standard: Understand basic microeconomics terms and concepts, including scarcity and choice, equilibrium, efficiency and equity, positive and normative economics, comparative advantage, and specialization.