EC 205 - PRINCIPLES OF ECONOMICS - COURSE SYLLABUS

Microeconomic concepts and analysis of pricing in competitive and noncompetitive markets, as well as market
interference, shocks, and failure. Macroeconomic analysis of production, unemployment, and inflation. Monetary
and fiscal policy and the stabilization of the economy.
Credit will not be given for both EC 205 and either ARE 201, EC 201, or EC202.
This course is designed for non-Poole students and Economics majors wishing to take a one-semester survey
course that covers macro- and micro-economic topics. I also teach EC 201 MW at 10:40 AM, which is designed
for Poole College of Business students, excluding Economics majors.
INSTRUCTOR
Allison S. Lowe-Reed, Ph.D., M.E.
Senior Lecturer
Office: 4144 Nelson
Ways to contact me outside of class:
• Talk to me after class or walk with me back to Nelson
• Weekly Drop-in Office Hours in my office on Tuesdays 12:30 – 1:30 pm.
• 10-minute online appointments - Use https://lowereed.youcanbook.me/ to schedule
individual appointments 24 hours in advance.
• Muffin Mtgs - Scheduled periodically throughout the semester
• For in-depth econ questions and explanations, post on the Recitation Moodle Q n’ A
• For QUICK questions and short answers, use the GroupMe for this class.
• My email is a_lowereed@ncsu.edu. This is the slowest way to get an answer. Please reserve
email for private, personal communication.
You can always speak with the class TA before or after class, as well.
COURSE OBJECTIVE AND LEARNING OUTCOMES
The overall course objective is to introduce the economic way of thinking. By the end of the course, students will be
able to do the following:
1. Identify and use the core principles, concepts, and tools of microeconomics to analyze choices and
consequences.
a. Utilize economic models related to production, trade, distribution of resources, and economic welfare.
b. Analyze and apply the mechanics of demand and supply.
c. Apply the concept of elasticity as a measure of responsiveness.
d. Analyze issues in terms of tradeoffs, marginal costs and benefits, and incentives.
2. Apply economic methods to analyze real-world situations, e.g., predict the effects of government actions
or market shocks.
3. Identify the characteristic differences between various market structures, including both perfect and
imperfect competition, and understand the differences in their outcomes.