Introduction to Economics


  2. A. Course Title: Introduction to Economics
    B. Course Number: EC 113 - 30794
    C. Semester: Fall 2019
    D. Days/Time: M W F 11:00:00 AM - 11:50:00 AM
    E. Credit Hours: 3
    F. Instructor: Howell, Chris
    G. Office: C.M. Burke University Center (UC) 222
    H. Email Address:
    I. Office Phone: (575) 492-2659
    J. Office Hours: Monday: 8:00:00 AM-9:00:00 AM (MST); 10:00:00 AM-11:00:00 AM (MST); 12:00:00 PM-1:00:00 PM (MST);
    Tuesday: 8:30:00 AM-9:30:00 AM (MST); 12:30:00 PM-1:00:00 PM (MST);
    Wednesday: 8:00:00 AM-9:00:00 AM (MST); 10:00:00 AM-11:00:00 AM (MST); 12:00:00 PM-1:00:00 PM (MST);
    Thursday: 8:30:00 AM-9:30:00 AM (MST); 12:30:00 PM-1:00:00 PM (MST);
    Friday: 8:00:00 AM-9:00:00 AM (MST); 10:00:00 AM-11:00:00 AM (MST);
    I will make every effort to respond to e-mails within 24 hours Mon - Fri and before noon on Monday for messages sent over the weekend. Summer office hours are by appointment. Students may contact me to make an appointment outside of office hours if needed.
    K. Time Zone: Mountain Time
    L. Prerequisite(s):
    M. Corequisite(s):
    N. Class Location: BUC218

    An introductory course in economics designed for non-business majors. This course will introduce students to macro and micro economic principles and how they apply to individual well-being, society, and domestic and global issues in today's world.


    This course provides a general introduction to economic concepts which will meet the Social/Behavioral General Education requirement according to the NM Higher Education Dept. It does not meet the economic requirement for most business programs, including the AAS in Business at NMJC.






    You can buy your books online at the NMJC Bookstore.


    Grading Policy
    450+ points A
    400 - 449 points B
    350 - 399 points C
    300 - 349 points D
    < 300 points F
    Weekly Quizzes (16) ~ 150 points
    Assignments (16) ~ 200 points
    Exams (3) ~ 150 points
    Classroom Activities/ Discussion Boards ~ 50 points

    No late work will be accepted!


    New Mexico Junior Collegeís institutional student learning outcomes represent the knowledge and abilities developed by students attending New Mexico Junior College. Upon completion students should achieve the following learning outcomes along with specific curriculum outcomes for respective areas of study:


    Students in the Business/Computer Science Departments should be able to:
    1) Demonstrate an understanding of industry specific ethics (self & community),
    2) Prepare and interpret documents,
    3) Interpret and characterize data appropriate to the course (critical thinking),
    4) Demonstrate computer skills appropriate to the course, and
    5) Demonstrate the value of professionalism in the workplace.


    1. Gain and demonstrate a contextual understanding of economic terms and concepts.

    2. Recognize and analyze common economic issues which relate to individual markets and the aggregate economy.

    3. Learn basic economic principles that influence global trading and challenges relating to globalization.

    4. Outline the implications of various economic policies on individuals and on economies.

    5. Demonstrate ability to use diagrams and graphs to explain economic principles, policies and their applications.

    6. Appreciate and understand how individual decisions and actions, as a member of society, affect economies locally, nationally and internationally.

    7. Explain the roles of governments in influencing buyer and seller behavior in the market and how government failure occurs when intervention fails to improve or actually worsens economic outcomes.

    8. Be able to apply course concepts to interpret, evaluate and think critically about economic events and policies, especially as regularly reported in the media and other public forums.


    Students will be held responsible for the information on these pages.

    Academic Honesty
    Each student is expected to maintain the highest standards of honesty and integrity in online academic and professional matters. The College reserves the right to take disciplinary action, up to and including dismissal, against any student who is found guilty of academic dishonesty or otherwise fails to meet these standards. Academic dishonesty includes, but is not limited to, dishonesty in quizzes, tests, or assignments; claiming credit for work not done or done by others; and nondisclosure or misrepresentation in filling out applications or other College records. Cheating or gaining illegal information for any type of graded work is considered dishonest and will be dealt with accordingly.

    Americans with Disabilities Act (ADA) Information
    Any student requiring special accommodations should contact the Special Needs Student Services Coordinator at (575) 492-2576 or by e-mail at

    Attendance Policy
    Attendance is required at every session of each course for which the student is enrolled. When unavoidable circumstances make attendance impossible, students must provide a satisfactory explanation of their absences to their professors. College-sponsored activities are considered excused absences and the appropriate sponsor of those students who will be absent from class will notify professors. Students having absences due to college-sponsored activities will need to make arrangements with the affected classes / professor to take care of required work; however, arrangements for make-ups should be made within a reasonable time frame, usually within one week of the absence. Regarding make-up work, absences due to late registration are considered the same as regular absences.

    Cell Phones/Pagers
    All cell phones and pagers must be turned off when the student is participating in any lecture, laboratory, or other learning activity.

    Classroom Conduct
    The professor is responsible for maintaining a class environment best suited for effective learning. By registering for this class, the student is assumed to have entered into an agreement with New Mexico Junior College and the professor to attend the class regularly and to behave in an appropriate manner at all times. Disruptive behavior may result in the student being removed from the class.

    Food and Drink Policy
    Food items and soft drinks may not be consumed in NMJC classrooms. Students are also discouraged from bringing food and drink items into the classroom even though these items remain in sealed packaging. Bottled water is permissible.

    No Children in the Classroom
    In order to adhere to instructional procedures as well as maintain the safety of children, NMJC’s policy of no children in the classrooms (lecture, lab, etc.) will be followed.

    Offering the work of another as one’s own, without proper acknowledgment, is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical expression of material taken from books, encyclopedias, magazines and other reference works, or from the themes, reports, or other writings of a fellow student, is guilty of plagiarism. Plagiarism violates the academic honesty policy and is considered cheating.

    Smoking/Use of Tobacco
    New Mexico Junior College is cognizant of the health hazards associated with smoking / use of tobacco for the smoker, as well as the non-smoker. In an effort to provide a healthy environment for students, employees, and others who may frequent the campus, NMJC prohibits smoking / use of tobacco inside any campus building or facility.

    Tutoring Assistance
    Free tutoring services are available to all NMJC students through Brainfuse and the Academic Success Center located at the Pannell Library on the 1st floor.

    Withdrawal Policy
    Regular, punctual attendance is required for all classes at NMJC. Although the professor has the right to drop any student who has missed the equivalent of 2 weeks of instruction (based on a 16 week semester) whether itís a face to face, online, or a hybrid course, it is not guaranteed that the professor will drop the student. If the student chooses to stop attending a class, he/she should withdraw from the class by accessing your student account in the T-Bird Web Portal at, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Tuesday, November 19, 2019. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.


    EC 113† Introduction to Economics Outline

    1. Thinking like an Economist

    2. Economic models and gains from trade

    3. Supply and Demand

    4. Price elasticity

    5. Supply, demand, and government policies

    † † † ††Exam One (Weeks 1 - 5)


    1. Cost of production

    2. Market structures

    3. Behavioral economics

    4. Labor markets and earnings

    5. Government in the economy

    † † † ††Exam Two (Weeks 6 - 10)


    1. Measuring a nations income, the cost of living, and unemployment

    2. Aggregate demand and aggregate supply

    3. Economic growth

    4. Savings, investment, and the market for loanable funds

    5. The monetary system

    6. Monetary and fiscal policy

    † † † † Exam Three (Weeks 11 - 16)