Economics
Introduction to Economics
3 College Credits | UT Course Code: ECO 304K | TCCNS: ECON 2302 | Core Code: 080
High School Course Prerequisite: Algebra II recommended (or concurrent enrollment)
Use logic, math and technology to interpret statistics, apply economic analysis, and become an informed consumer.
This single-semester course is available in fall or spring. It introduces the principles, models and conditions that influence our economy and explores how consumers, businesses and governments make and evaluate economic decisions.
In addition to studying core concepts like scarcity, opportunity costs, supply and demand, market structures, competition and behavioral economics, students also learn about economics in business, entrepreneurship and their own personal lives.
Course Structure
Through Flipped Learning, the course emphasizes microeconomics concepts and quantitative reasoning as students employ logic, mathematics and technology to interpret basic statistics and apply economic analysis. Students drive their own mastery of the content through peer collaboration and in-class discussion.
Big Ideas
- Foundations of economics: Understand underlying concepts of economic decision-making: incentives, trade-offs, opportunity cost, marginal thinking and how trade creates value.
- The role of markets: Discover how markets work and the nature of competition through studying the formal model of supply and demand; how the two forces interact to create market equilibrium; how consumers and producers respond to price changes; and how taxes impact the market economy.
- Theory of the firm: Examine different types of competition and how businesses make cost and production decisions to impact their ability to compete.
- Consumer behavior: Explore factors that influence how consumers make individual economic decisions including choice, customer satisfaction, risk and irrational behavior.
What Students Gain
- Microeconomics and macroeconomics concepts
- Quantitative reasoning skills
- Personal financial literacy
What Students Say
“I was able to gain transferable college credit that was dependent on multiple assignments and tests, instead of just one. This took a lot of stress out of the class and made it much more accessible to me. The course was a great experience, and I would recommend it to anyone!”