British Columbia Institute of Technologywww.bcit.ca/study/courses/econ1150

Important Notice: COVID-19 Institute response

BCIT

ECON 1150 - Economic Issues

Economics Part-time Studies Course

School of Business + Media

BCIT is planning for a substantial return to on-campus activity for the fall 2021 term as informed by BC Public Health Officer guidelines. Refer to each course listing for details.

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.

Credits

3.0

Cost

$478.84 - $504.24 See individual course offerings below for actual costs.

Fall 2021

Below are two offerings of this course for the Fall 2021 term.

CRN 31775

Tue Sep 07 - Sat Nov 27 12 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 07 - Nov 27 Online

Instructor

Gary Fowlie

Course Outline

Cost

$478.84

Notes

  1. Internet delivery format.
  2. Students must submit e-mail 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. This online course is NOT self-paced. You must have an e-mail address and access to a computer capable of downloading basic documents. You are not required to be online at a specific time of the day; however you are required to submit all assignments on their due dates.
  3. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

CRN 30806

Thu Sep 16 - Thu Dec 16 12 Weeks

Class Meeting Times

Dates Days Times Locations
Sep 16 - Dec 16 Thu 18:00 - 21:00 DTC DTC Rm. 481

Instructor

Serge Tarasenko

Course Outline

Cost

$504.24

Notes

  1. No classes on Sept 30th & November 11th.
  2. Important course information will be sent to you prior to your course start date. Check your myBCIT email account to access this information.

This course offering is in progress. Please check back next term or subscribe to receive email updates.

In Progress

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

ECON 1150 is offered as a part of the following programs:

School of Business + Media

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

School of Construction and the Environment

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

Subscribe

Interested in being notified about future offerings of ECON 1150 - Economic Issues? If so, fill out the information below and we'll notify you by email when courses for each new term are displayed here.

Privacy Notice: The information you provide will be used to respond your request related to BCIT course information and is collected under Section 26(c) of the Freedom of Information and Protection of Privacy Act (FIPPA). For more information about BCIT’s privacy practices contact: Associate Director, Privacy, Information Access & Policy Management, British Columbia Institute of Technology, 3700 Willingdon Ave. Burnaby, BC V5A 3H2, email: privacy@bcit.ca.

Programs and courses are subject to change without notice.

Find Courses

School of Business + Media Waitlist

Need to waitlist for a School of Business + Media course?

Find out more

English Language Proficiency

BCIT's Part-time Studies English Language Proficiency Standard is English 12 (or equivalency). Students who do not meet this requirement should upgrade their English skills prior to any future registration.

Payment Changes At BCIT

We've changed the way we accept payments.

Find out more

Course Navigation, Related Links & Tools

Registration News

Registration is currently open for the Fall 2021 term.

The sneak preview for the Winter 2022 term starts Fri, Oct 22 at 8:30 am (PDT).

Students may register for Winter 2022 term courses online or by phone starting Wed, Oct 27 at 9:00 am (PDT).

Classroom Locations

Classroom locations are subject to last minute changes. Please check the Part-time Studies Classroom Locations listing at www.bcit.ca/rooms on the first day of any course you are registered for.

Part-time Studies Financial Aid

Will you be studying at BCIT part-time? Do you need assistance funding your studies? Find out if you qualify for Part-time Studies financial aid.

© BCIT