Seoul, South Korea
Area of Study
Taught In English
Course Level Recommendations
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits0
Recommended U.S. Quarter Units0
Hours & Credits
This course introduces you to the very basis of economics. While many people think economics is just another academic subject, it is actually about how people like you and me are making their choices in everyday life. What will make you different after you have finished this course is your choice is going to be educated since it will be based on a better understanding of people?s incentives, the tradeoffs between various options, and a sound grasp of what the world is offering you in terms of the economic benefits. You will not get rich overnight, but the way you manage your money and time will become more efficient. Finally, as an active voter you will be able to assess more objectively the various policies promoted by the politicians you vote for. To put it short, having studied economics will increase your awareness of what you are actually doing in life.
There will be one midterm and one final exam (both in English) with equal weights. Your attendance will enter the final score with the weight of 10%. Questions are mostly of multiple-choice or short-answer type.
Chapter 1. Ten Principles of Economics.
Chapter 3. Gains from trade.
Chapter 4. Supply and Demand.
Chapter 5. Elasticity.
Chapter 6. Supply, Demand and Government Policies.
Chapter 7. Consumers, Producers, and Market Efficiency.
Chapter 8. Costs of taxation.
Chapter 9. International trade.
Chapter 10. Externalities.
Chapter 11. Public Goods and Common Resources.
Chapter 13 Production costs.
Chapter 14. Firms in competitive markets.
Chapter 15. Monopoly.
Chapter 17. Oligopolies.
Courses and course hours of instruction are subject to change.