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Economic Systems

AG-201  World Food and Society
EC-101  Economic Problems and Policies
EC-215  Principles of Microeconomics
MN-220  Engineering Economic Analysis


AG-201    World Food and Society

Catalog Description (including prerequisites)

Food production and distribution in the advancement of societies in developed and developing countries.  (3)

Course Content

Introduction.  Economic, political, and cultural issues surrounding the persistence of hunger:  Population, production, foreign aid, National Security, and the New International Economic Order.  Food, agriculture and economic growth.  The plants and animals that nourish man.  Cultural, environmental, and governmental factors in food production and agricultural development.  Food storage, security, and distribution.  The hesitant recovery and prospects for sustained economic growth.  Human nutritional needs and food sources.  Sustaining world agriculture and food production opportunities for growth.  Land ownership and tenure.  Food strategies for tomorrow:  2000 and a look to the future.

Nature of Course

  1. General Description:  The course is based on the assumption that food production and distribution is basic for the existence of man and animals and the development and survival of societies throughout the world.  It assumes that food science and technology, food processing, distribution, and services are directly related to social, economic, and political structures throughout the world.

    The course will provide an opportunity for students to explore, obtain knowledge, and acquire an understanding of the importance of food in our societies and for the health and well being of man and animals.

  2. Teaching Format:  Lesson plans will be developed for each lecture-discussion session.  Each lesson will include a topic, purpose, objectives, reading references, course notes, teaching-learning activities, and a progress evaluation.  The activities will vary for each lesson and will include both classroom and outside class activities.  Lectures, discussions, panels, and visual aids (slides, video tapes, etc.) will be utilized throughout the semester.
  3. Student Assignments:  Class preparation assignments will include readings, utilization of library resources, and completion of assigned teaching-learning activities.  Assignments to collect information from a variety of sources will be important for students to understand the dimensions of world food problems and the potential for food security in developed and developing countries.  Projects will be assigned to identify food supplies and food quality in various cultures.

  4. Expectations of Students:  Attend class, participate in class discussion and complete reading assignments in a timely manner, show evidence of study outside of class, prepare and complete written assignments, and take examinations on scheduled dates.

Student Expectations

  1. Examinations
    1. Three one-hour
    2. One two-hour final
  2. Progress evaluations and quizzes
  3. Teaching-learning activities 
    1. Projects, special assignments, and/or papers
    2. Review of video tapes, films, and/or slides
    3. Presentations including panel discussions and role playing


EC-101    Economic Problems and Policies

Catalog Description (including prerequisites)

An introduction to the domestic and international economic problems facing the United States today and an analysis of the policies designed to alleviate these problems.  (3)

Course Content

The course includes an introduction of basic economic concepts, principles and theories such as inflation, unemployment, Gross National Product, supply and demand and cost-benefit analysis.  These concepts and theories are used to explain how the American economy works in a domestic and international setting.  They are also used to analyze current economic problems and evaluate policies designed to alleviate these problems.

Nature of Course

The course has an assigned textbook which will be accompanied by readings from current periodicals and newspapers.  Class time will be devoted to lecture, question/answer sessions and discussion.  An out-of-class project involving information gathering and analysis will be assigned.

Student Expectations 

Evaluation will be based on objective and subjective examinations, class participation, and the quality of the out-of-class project.



EC-215    Principles of Microeconomics

Catalog Description (including prerequisites)

U. S. market economic system.  Demand, supply, competition, pricing, resource allocation concepts applied to issues in business, labor, and public policy.  Prerequisites:  AD101 or BA100 with a minimum grade of "C" or IE102; MA134 or equivalent.

Course Content

Students will be introduced to a number of economic concepts, beginning with supply and demand.  These concepts will be used to explore how a market economy operates.  Current problems and issues in microeconomics such as price supports, the cost of health care, the minimum wage, mergers, labor unions, pollution and poverty (to name a few) will be discussed and analyzed using economic concepts.

Nature of Course

The course has an assigned textbook which may be supplemented by readings from current magazines and newspapers.  Some writing is essential.  At the beginning of the semester each student will select a project topic.  During the semester the student will gather information about the topic, organize the information, and summarize it.  Finally, students will identify an issue related to their topic and write an essay which defines the issue, presents arguments related to the issue and reaches a conclusion.

Student Expectations 

Exams will include some objective questions as well as essay and short answer questions.  Evaluation will be based on these exams, class participation, the project, and other assignments.

Class attendance is an important factor in this course.  Class time will involve projects, simulations, and discussions as well as lectures.


MN-220    Engineering Economic Analysis

Catalog Description (including prerequisites)

Engineering economic topics include time-value of money effects, cost/benefit analysis, tax consequences, and capital depreciation related to manufacturing or engineering.  Prerequisite:  MA-134.  (3)

Course Content

Making Economic Decisions
Incremental Analysis
Engineering/Technology Costs
Depreciation
Interest and Equivalence
Replacement Analysis
Present-Worth Analysis
Rate of Return Analysis
Estimation of Future Events

Nature of Course

Students will be exposed to the economic decision-making tools relevant to engineering and technical disciplines in the United States.

Students will gain insight on how government regulations directly influence private and public sectors of industry.

Students will use practical applications (projects) to understand the economic ramifications of short- and long-term capital expenditures.

Student Expectations

Class attendance and participation are strongly encouraged.
Students are required to read the assigned chapters for discussion.
Students are required to apply prerequisite mathematics knowledge where warranted.
Students will complete all assignments (presentations, written papers and online discussions) in a timely fashion.  Late work is unacceptable.

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