ECON 101-04, Introduction to Economics, Fall 2007

Abstract

This course will focus on several key issues: the nature of incentives, basic models of consumer and producer behavior (as well as their applications), the workings of “supply and demand,” the causes and consequences of government intervention, the social role of profit and loss, and the consequences of each for human well-being. The Rhodes Vision states that “Rhodes College aspires to graduate students with a life-long passion for learning, a compassion for others, and the ability to translate academic study and personal concern into effective leadership and action in their communities and the world.” Understanding economics is integral to the Rhodes Vision in that economics equips you with a unique critical perspective. While economic analysis as such does not produce value judgments, careful economic reasoning can inform “effective leadership and action” in that what you learn in this course will help you carefully evaluate and act on policy proposals, whether it be in the boardroom or at the ballot box. This syllabus provides a tentative guide to the course. The assignments and course outline are subject to change.