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

 

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Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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