vcc.ca
ELRT 2101: The Canadian Economy
Effective date
January 2020
Department
Electronics Repair Technology
School
Trades, Technology and Design
Description
This course will examine both micro and macro economic topics within the context of the Canadian economy. Students will focus on gaining a broad understanding of economic theory and its application to contemporary Canadian economic issues including the impact of free trade agreements and the rapid growth of Canada's Indigenous community as a driver of the economy.
Credits
3.0
Year of study
2nd Year Post-secondary
Prerequisites
None
Corequisites
None
Course Learning Outcomes
Upon successful completion of this course, students will be able to:
- Explain the basic principles of economics including: scarcity, choice and opportunity costs
- Describe the market forces of demand, supply and elasticity
- Describe various types of market structures: perfect competition, monopoly, oligopoly, and monopolistic competition
- Describe the nature, role and demand for money
- Explain how economic variables such as the Gross Domestic Product, the inflation rate, and the unemployment rate are calculated
- Describe the use of monetary and fiscal policies by the Canadian government
- Describe the role of the Bank of Canada and the Department of Finance (Canada), in the Canadian economy
- Identify and describe the drivers of economic growth for Indigenous communities in the Canadian economy
- Describe exchange rate systems, how foreign exchange rates are determined and the effect of exchange rates on Canada's balance of payments and competitiveness
- Describe Canada's current and pending international free trade agreements and explain how they affect the country's performance as a global trading partner
Prior Learning Assessment & Recognition (PLAR)
None
Hours
Lecture, Online, Seminar, Tutorial: 60
Clinical, Lab, Rehearsal, Shop, Kitchen, Simulation, Studio: 25
Total Hours: 85
Clinical, Lab, Rehearsal, Shop, Kitchen, Simulation, Studio: 25
Total Hours: 85
Instructional Strategies
Daily instructional time is divided equally between classroom activity and practical workshop experience
Classroom activity consists of lectures, demonstrations, audio-visual presentations and exercises that provide a practical working knowledge of concepts discussed. Extensive workshop experience is provided to reinforce theoretical concepts, develop hand skills and achieve familiarity with a variety of electronic equipment and apparatus.
Classroom activity consists of lectures, demonstrations, audio-visual presentations and exercises that provide a practical working knowledge of concepts discussed. Extensive workshop experience is provided to reinforce theoretical concepts, develop hand skills and achieve familiarity with a variety of electronic equipment and apparatus.
Grading System
Letter Grade (A-F)
Passing grade
C
Evaluation Plan
|
Type |
Percentage |
Assessment activity |
|
Assignments |
30 |
3 assignments |
|
Quizzes/Tests |
20 |
2 quizzes |
|
Midterm Exam |
20 |
|
|
Final Exam |
30 |
|
Course topics
- Fundamental concepts of Economics
- Scarcity, Trade-Offs and Economic Growth
- The Market, Supply and Demand
- Elasticities, Consumer Behaviour, Externalities, Public Goods and Public Choice
- Production and Costs, Competition
- Monopoly
- Input markets and the Distribution of Income
- Introduction to Macroeconomics, Measuring Economic Performance,
- Economic Growth in the Global Economy
- Aggregate Demand, Aggregate Supply and Equilibrium
- Money and Banking, Bank of Canada and Monetary Policy
- The contribution of Indigenous communities to the Canadian economy
- International Trade and Free Trade Agreements
Notes:
- Course contents and descriptions, offerings and schedules are subject to change without notice.
- Students are required to follow all College policies including ones that govern their educational experience at VCC. Policies are available on the VCC website at:
https://www.vcc.ca/about/governance--policies/policies/. - To find out if there are existing transfer agreements for this course, visit the BC Transfer Guide at https://www.bctransferguide.ca.