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Course details

Presents the influential concepts of both micro and macroeconomics and, in a student-based learning environment, assists you in applying these notions to your career. A professional economist will work with you in discovering the laws of supply and demand, consumer decision-making, producer profit maximization, competition and monopoly regulation in microeconomics. Use of fiscal, monetary and exchange rate policy to influence unemployment, inflation and economic growth is also covered. Familiarization with spreadsheets is strongly recommended for those intending to register in the Internet delivery section.

Prerequisite(s)

  • No prerequisites are required for this course.

Credits

3.0

Cost

$514.22 - $527.24 See individual course offerings below for actual costs.

Course offerings

Winter 2023

Below are three offerings of ECON 1150 for the Winter 2023 term.

CRN 40013

Duration

Wed Jan 04 - Sat Mar 25 (12 weeks)

  • 12 weeks
  • CRN 40013
  • $514.22
Class meeting times
Dates Days Times Locations
Jan 04 - Mar 25 N/A N/A Online
Instructor

Charlene Richter

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

3

Cost

$514.22

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. Students must submit email address when registering. To be successful in our online courses, plan to spend 7-10 hours per course each week on your studies, starting Week 1. Our courses are paced and highly interactive with participation requirements weekly. Frequent contributions to asynchronous (not real time) online discussions is required to achieve a passing final grade. Is online learning for you? Please take a look at our FAQ pages www.bcit.ca/distance/faq.shtml and www.bcit.ca/distance/foryou.shtml
Status

Seats Available

3 seats remaining as of Sat December 3, 2022 at 2:13 pm (PST). Availability may change at any time.

CRN 71616

Duration

Wed Jan 04 - Sat Mar 25 (12 weeks)

  • 12 weeks
  • CRN 71616
  • $514.22
Class meeting times
Dates Days Times Locations
Jan 04 - Mar 25 N/A N/A Online
Instructor

Charlene Richter

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

3

Cost

$514.22

Important information
  1. Internet delivery format.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  3. Students must submit email address when registering. To be successful in our online courses, plan to spend 7-10 hours per course each week on your studies, starting Week 1. Our courses are paced and highly interactive with participation requirements weekly. Frequent contributions to asynchronous (not real time) online discussions is required to achieve a passing final grade. Is online learning for you? Please take a look at our FAQ pages www.bcit.ca/distance/faq.shtml and www.bcit.ca/distance/foryou.shtml
Status

CRN 16418

Duration

Tue Jan 10 - Tue Mar 28 (12 weeks)

  • 12 weeks
  • CRN 16418
  • $527.24
Class meeting times
Dates Days Times Locations
Jan 10 Tue 18:30 - 21:30 Burnaby SE06 Rm. 208
Jan 17 Tue 18:30 - 21:30 Online
Jan 24 Tue 18:30 - 21:30 Burnaby SE06 Rm. 208
Jan 31 Tue 18:30 - 21:30 Online
Feb 07 - Feb 14 Tue 18:30 - 21:30 Burnaby SE06 Rm. 208
Feb 21 - Feb 28 Tue 18:30 - 21:30 Online
Mar 07 Tue 18:30 - 21:30 Burnaby SE06 Rm. 208
Mar 14 Tue 18:30 - 21:30 Online
Mar 21 - Mar 28 Tue 18:30 - 21:30 Burnaby SE06 Rm. 208
Instructor

Karen Law

Course outline

Course outline TBD — see Learning Outcomes in the interim.

Credits

3

Cost

$527.24

Important information
  1. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.
  2. This is a Hybrid/blended course that has both online synchronous and in-classroom meetings. The online synchronous weeks require regular attendance to scheduled lectures and provides real-time interaction with your instructor and classmates. In-classroom meetings are conventional on campus face-to-face format. Both the online synchronous meetings and in-classroom meetings are held on the same day and time each week. Campus and room location are as noted on the course registration information above. This Hybrid/blended course has more than 50% of the prescribed meeting time as “on campus in-classroom” and is therefore eligible for International Students to use as part of their “in-classroom” program requirement.
Status

Learning Outcomes

Upon successful completion of the course, the student will be able to:

  • Use standard economic models to solve problems.
  • Define opportunity cost and explain its importance in decision making.
  • Use a standard model of consumer behaviour to demonstrate how people decide amongst many choices given a limited income.
  • Use the model of supply and demand to illustrate how consumers and suppliers interact to determine price and quantity exchanged in the marketplace.
  • Demonstrate the effects of price ceilings, price floors, and taxes on prices and quantities in product markets.
  • Use income and price elasticities to analyze consumer demand for a product or service.
  • Distinguish between explicit and implicit costs.
  • Calculate revenues, costs, and profits.
  • Distinguish between a business's accounting profits and economic profits.
  • Show how the concept of opportunity cost influences business decisions.
  • Differentiate between short-run and long-run production decisions.
  • Demonstrate how businesses use cost analysis to make production and sales decisions.
  • Describe the characteristics of perfectly competitive and imperfectly competitive markets.
  • Demonstrate why a perfectly competitive firm produces an output where price equals marginal cost.
  • Determine the shut-down point.
  • Explain how market structure influences a firm's strategic pricing and production decisions.
  • Evaluate the economic efficiency of various market structures.
  • Explain how globalization and technology have changed the Canadian industrial landscape.
  • Assess the role of government in the marketplace.
  • Describe Canada's recent macroeconomic history.
  • Understand the relationships amongst economic variables such as unemployment, inflation, and real Gross.
  • Domestic Product, and determine how changes in economic variables impact Canadian production.
  • Recognize the role of the Bank of Canada and the banking industry in the Canadian economy.
  • Explain how fiscal and monetary policies affect economic activity, and determine which policy would be most effective in achieving our economic goals.
  • Describe how globalization impacts the Canadian economy.

Effective as of Winter 2007

Related Programs

Economic Issues (ECON 1150) is offered as a part of the following programs:

School of Business + Media

  1. Financial Management (Financial Planning)
    Associate Certificate Part-time
  2. Fire Executive Management
    BCIT/Industry Partnership Certificate Part-time
  3. Graphic Communications Technology Management
    Diploma Full-time
  4. Human Resource Management
    Certificate Part-time
  5. International Trade and Transportation Logistics
    Certificate Part-time

School of Construction and the Environment

  1. Construction Estimating
    Certificate Part-time
  2. Geographic Information Systems
    Bachelor of Technology Full-time/Part-time
  3. Geomatics
    Bachelor of Science Full-time

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