BA_ECON 100: Principles of Economics (Supreme)
About Course
This course combines economic theory and application in an up-to-date, accessible, and appealing way as seen from a Canadian perspective.
The course is designed to engage students and help them realize the power of economic theory in explaining the practical aspects of their lives and how it can be applied in business.
Course Content
Module I
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04:25
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05:44
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LO2: Identify the three basic economic questions and how various economic systems answer them
05:52 -
LO3: Comprehend the theories established by the founder of modern economics
04:17 -
Knowledge Check
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Case Study: Economic Problem
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05:19
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03:18
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LO2: Understand the nature of supply, changes in quantity supplied, changes in supply, and the factors that affect supply
03:26 -
LO3: Explain how markets reach equilibrium
09:23 -
Knowledge Check
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Case Study: Demand and Supply
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05:35
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06:57
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LO2: Comprehend the price elasticity of supply and the links between production periods and supply
02:44 -
LO3: Identify how price elasticities of demand and supply determine the impact of an excise tax
04:34 -
LO4: Explain how governments use price controls to override the “invisible hand” of competition
08:34 -
Knowledge Check
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Case Study: Competition and Government
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Topic 4: Cost of Production
05:24 -
LO1: Identify economic costs (explicit and implicit) of production and economic profit
03:01 -
LO2: Recognize Short-run products, and the Law of diminishing marginal returns
05:22 -
LO3: Explain Long-run results of production and Long-run costs
04:21 -
Knowledge Check
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Case Study: Cost of Production
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Topic 5: Perfect Competition
05:35 -
LO1: Distinguish the four market structures
02:28 -
LO2: Explain how Perfect Competitive Markets adjust in the long run
03:38 -
LO3: Understand the Profit-maximizing and its rule
03:49 -
LO4: Comphrend the theory of Perfectly competitive firms and Markets
07:58 -
Knowledge Check
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Case Study: Perfect Competition
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Topic 6: Monopoly and Imperfect Competition
05:00 -
LO1: Describe the demand conditions faced by monopolists, monopolistic competitors, and oligopolists
05:39 -
LO2: Distinguish how monopolists, monopolistic competitors, and oligopolists maximize profits
04:58 -
LO3: Recall the key elements of the Prisoner’s Dilemma
05:13 -
Knowledge Check
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Case Study: Monopoly and Imperfect Competition
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Topic 7: Economic Welfare and Income Distribution
06:01 -
LO1: Explain the concepts of Consumer surplus and Deadweight loss
04:09 -
LO2: Distinguish Spillover costs and benefits
03:10 -
LO3: Summarize how Income is distributed among Canadian households, how this distribution is measured
05:57 -
LO4: Identify the causes of poverty and the way poverty is measured
05:08 -
Knowledge Check
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Case Study: Economic Welfare and Income Distribution
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Topic 8: Measures of Economic Activity
04:45 -
LO1: Explain why economists choose to concentrate on Gross Domestic Product
09:33 -
LO2: Distinguish other Economic measures developed from the national income accounts
04:21 -
Knowledge Check
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Case Study: Measures of Economic Activity
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Topic 9: Inflation and Unemployment
05:03 -
LO1: Explain the Consumer Price Index and Real GDP
03:50 -
LO2: Define Inflation, how it is measured, and its effect on nominal and real incomes
05:25 -
LO3: Comprehend the Official unemployment rate, and the different types of Unemployment
05:57 -
Knowledge Check
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Case Study: Inflation and Unemployment
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Topic 10: Economic Fluctuations
05:59 -
LO1: Explain Aggregate demand and the factors that affect it
03:36 -
LO2: Distinguish Aggregate supply and the factors that influence it
03:28 -
LO3: Understand the Economy’s equilibrium and how it differs from its potential
03:13 -
LO4: Define Economic growth its sources, and its impact
03:31 -
LO5: Summarize Canada’s historical record of economic growth
03:11 -
Knowledge Check
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Case Study: Economic Fluctuations
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Topic 11: Fiscal Policy
05:25 -
LO1: Identify Expansionary and Contractionary fiscal policies
03:03 -
LO2: Explain the Multiplier effect of fiscal policy, as determined by the marginal propensities
07:44 -
LO3: Distinguish Budget surpluses and deficits and their impact on public debt and public debt charges
04:59 -
Knowledge Check
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Case Study: Fiscal Policy
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Topic 12: Money
04:43 -
LO1: Comprehend the functions of Money and its components
05:54 -
LO2: Understand the Demand and Supply of money and equilibrium in the money market
02:45 -
LO3: Explain how Money is created and define the Money multiplier
02:20 -
Knowledge Check
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Case Study: Money
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Topic 13: Monetary Policy
05:12 -
LO1: Discuss the Bank of Canada and its functions
02:41 -
LO2: Explain the tools the Bank of Canada uses to conduct monetary policy
03:55 -
LO3: Identify the tradeoff between Inflation and Unemployment
06:28 -
Knowledge Check
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Case Study: Monetary Policy
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Topic 14: Foreign Sector
05:18 -
LO1: Define and distinguish different types of Bank accounts in Canada
04:44 -
LO2: Understand Exchange rates and how they are determined
04:12 -
LO3: Summarize Exchange rate systems and their evolution
04:43 -
Knowledge Check
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Case Study: Foreign Sector
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Module Based Quiz