1 Course Map
Course map created by Mike Munoz, Alamo Colleges
Download the excel version here.
https://openstax.org/details/books/principles-microeconomics-2e
All assessments are from the OpenStax text and resources.
| Explain the role of scarcity, specialization, opportunity cost, and cost/benefit analysis in economic decision-making. | Scarcity | Chapter 1 – Welcome to Economics |
| Opportunity Cost | Chapter 2 – Choices in a World of Scarcity | |
| Cost/Benefit Analysis | Chapter 2 – Choices in a World of Scarcity | |
| Identify the determinants of supply and demand; demonstrate the impact of shifts in both market supply and demand curves on equilibrium price and output. | Supply | Chapter 3 – Demand and Supply |
| Demand | Chapter 3 – Demand and Supply | |
| Shifts | Chapter 3 – Demand and Supply | |
| Equilibrium | Chapter 3 – Demand and Supply | |
| Summarize the law of diminishing marginal utility; describe the process of utility maximization. | Law of Diminishing Marginal Utility | Chapter 6 – Consumer Choice |
| Utility Maximization | Chapter 6 – Consumer Choice | |
| Calculate supply and demand elasticities, identify the determinants of price elasticity of demand and supply, and demonstrate the relationship between elasticity and total revenue. | Supply Elasticities | Chapter 5 – Elasticity |
| Demand Elasticities | Chapter 5 – Elasticity | |
| Determinants | Chapter 5 – Elasticity | |
| Elasticity & Total Revenue | Chapter 5 – Elasticity | |
| Describe the production function and the Law of Diminishing Marginal Productivity; calculate and graph short-run and long-run costs of production. | Production Function | Chapter 7 – Cost and Industry Structure |
| Law of Diminishing Marginal Productivity | Chapter 7 – Cost and Industry Structure | |
| Calculate and Graph Costs of Production | Chapter 7 – Cost and Industry Structure | |
| Identify the four market structures by characteristics; calculate and graph the profit maximizing price and quantity in the output markets by use of marginal analysis. | Market Structures | Chapter 8 – Perfect Competition; Chapter 9 – Monopoly; Chapter 10 – Monopolistic Competition & Oligopoly; Chapter 11 Monopoly and Antitrust Policy |
| Calculate & Graph | Chapter 8 – Perfect Competition; Chapter 9 – Monopoly; Chapter 10 – Monopolistic Competition & Oligopoly; Chapter 11 Monopoly and Antitrust Policy | |
| Marginal Analysis | Chapter 8 – Perfect Competition; Chapter 9 – Monopoly; Chapter 10 – Monopolistic Competition & Oligopoly; Chapter 11 Monopoly and Antitrust Policy | |
| Determine the profit maximizing price and quantity of resources in factor markets under perfect and imperfect competition by use of marginal analysis. | Factor Markets | Chapter 4 – Labor and Financial Markets; Chapter 15 – Issues in Labor Markets: Unions, Discrimination, Immigration |
| Describe governmental efforts to address market failure such as monopoly power, externalities, and public goods. | Monopoly Power | Chapter 11 – Monopoly and Antitrust Policy; Chapter 12 – Environmental Protection and Negative Externalities; Chapter 13 – Positive Externalities and Public Goods |
| Externalities | Chapter 11 – Monopoly and Antitrust Policy; Chapter 12 – Environmental Protection and Negative Externalities; Chapter 13 – Positive Externalities and Public Goods | |
| Public Goods | Chapter 11 – Monopoly and Antitrust Policy; Chapter 12 – Environmental Protection and Negative Externalities; Chapter 13 – Positive Externalities and Public Goods | |
| Identify the benefits of free trade using the concept of comparative advantage. | Free Trade | Chapter 19 – International Trade; Chapter 20 – Globalization and Protectionism |
| Comparative Advantage | Chapter 2 – Choice in a World of Scarcity; Chapter 19 – International Trade | |
| ALL ASSESSMENTS ARE FROM THE OPENSTAX TEXT AND RESOURCES |
