ECN230 - Making Sense of Our Economy

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Last revision date Sep 30, 2019 12:09:22 AM
Last review date Dec 2, 2019 12:15:05 AM

Subject Title
Making Sense of Our Economy

Subject Description
The course will introduce students to the most powerful tools in economics that can be used in real world scenarios. Students will have the opportunity to explore and examine inequality in the labour market, the impact of foreign trade and globalization, and determine the future value of the Canadian dollar. In addition, students will learn about causes and results of the global financial crisis. Finally, there will be an opportunity to learn more about various investments tools in financial markets and the impact of our environment on the economy.

Credit Status
One General Education elective credit in the Sciences and Social Sciences category.
Please Note:  Students that are in the ACC/ACF/ACFCBAM or BMT programs cannot take ECN230 as a general education credit as it is too similar to core courses in these programs.

Learning Outcomes
Upon successful completion of this subject the student will be able to:

  1. Explain the key economic indicators needed to measure the state of an economy in order to assess the current state of the Canadian economy.
  2. Illustrate the operation of a competitive market through demand, supply, and market equilibrium to be competitive in the marketplace.
  1. Discuss the impact of unemployment, inequality, and poverty on society in order to improve economic welfare in society.
  1. Analyse foreign trade, benefits of trade, and the impact of trade protection in order to determine the impacts on the global economy.
  1. Explain the various types of investments available in financial markets and future of the dollar in order to make better financial decisions.
  1. Apply the concept of supply, demand, and market equilibrium in order to determine the current and future exchange rates.
  1. Discuss the impact of the global financial crisis on the world economy in order to prepare for future occurrences.
  1. Demonstrate how fiscal and monetary policy is formulated and applied for the purpose of achieving macroeconomic stability.
  1. Discuss impact of natural resource consumption on our economy in order to assess long term impacts on our population.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Apply a systematic approach to solve problems.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Take responsibility for one's own actions, decisions, and consequences.

Academic Integrity
Seneca upholds a learning community that values academic integrity, honesty, fairness, trust, respect, responsibility and courage. These values enhance Seneca's commitment to deliver high-quality education and teaching excellence, while supporting a positive learning environment. Ensure that you are aware of Seneca's Academic Integrity Policy which can be found at: Review section 2 of the policy for details regarding approaches to supporting integrity. Section 2.3 and Appendix B of the policy describe various sanctions that can be applied, if there is suspected academic misconduct (e.g., contract cheating, cheating, falsification, impersonation or plagiarism).

Please visit the Academic Integrity website to understand and learn more about how to prepare and submit work so that it supports academic integrity, and to avoid academic misconduct.

All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Accessibility Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.