Microeconomic Penn Foster

[nmunchback]

Does anyone know if Penn Foster's Microeconomics - Economic II is ACE approved? I have been searching this forum but I cannot find a list of the approved courses through PF. Their website says they have 182 courses approved.

Thanks,
Nichole

[peace123]

Does anyone know if Penn Foster's Microeconomics - Economic II is ACE approved? I have been searching this forum but I cannot find a list of the approved courses through PF. Their website says they have 182 courses approved.

Thanks,
Nichole

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Economics II
ACE Number: ICS-0050
Credit Type: Course
Version 2
Course Title: Economics II
Location: Penn Foster College
Length: Correspondence program.
Version Dates: 07/01/1995 - Present
Description:
Correspondence program. Student will be able to list reasons for
differences in money income received by individual; differentiate
economic problems facing countries; explain kinds of markets.
Objective:
To provide the student with an understanding of general concepts of
economics and specialized problems such as inequality and poverty. To
provide the student with an understanding of general concepts of
microeconomics.
Learning Outcome:
Upon the successful completion of this course, the student will be able to
explain why externalities can market outcomes inefficient; discuss private
solutions and government solutions to problems of externalities; explain
graphically the effects of positive and negative externalities; use the
Coase theorem to explain when an externality can be negotiated through
the market; list the defining characteristics of a public good and a
common resource; evaluate cost-benefit analysis as it applies to
American Council on Education - National Guide to Educational Credit for Training Programs Page 1 of 4
government programs; discuss the significance of poorly defined property
rights in over-consumption of common resources; describe how the U. S.
government raises and spends money; describe the tradeoff between
efficiency and equity in the design of a tax system; and identify the major
sources of revenue for our government at the federal, state, and local
level.
Instruction:
Major topics covered include the economics of the public sector including
externalities, public goods and common resources, and the design of the
tax system; the costs of production; firms in competitive markets;
monopoly; oligopoly; monopolistic competition; the markets for the
factors of production; earnings and discrimination; the distribution of
income; and the theory of consumer choice.
Credit Recommendation:
In the lower division baccalaureate/associate degree category, 3 semester
hours in Economics or Macroeconomics (4/86) (7/90) (9/95) (12/00)


From the above it appears their econ II course is reviewed by ACE for credit in economics or macroeconomics.

Below is the Econ 1 info which also seems to be reviewed by ACe for credit in economics or macroeconomics.


Version 2
Course Title: Economics I
Location: Penn Foster College
Length: Correspondence program.
Version Dates: 07/01/1995 - Present
Description:
(Self-Study). Student will be able to describe a business cycle; explain
importance of the concept of Gross National Product; list four
assumptions concerning consumer behavior; explain differences between
foreign and domestic trade; define and give examples of noncompetitive
market structures; and understand macro and micro economic concepts,
the economizing problem, and its future implications.
Objective:
To provide the student with basic concepts of macroeconomics; the
student will be able to explain the meaning of basic terms and concepts;
recognize simple economic equations; describe a business cycle; discuss
economic measures; define basic theories; explain how changes effect
equilibrium; and explain the differences between foreign and domestic
trade.
American Council on Education - National Guide to Educational Credit for Training Programs Page 1 of 4
Learning Outcome:
Upon the successful completion of this course, the student will be able to
identify the basic function of economics; examine some of the tradeoffs
that people face in terms of opportunity costs; consider why trade among
people or nations can be good for everyone; describe two economic
models the circular-flow and the production possibilities frontier;
distinguish the difference between positive and normative statements;
discuss the role of economist in making public policy; apply the concept
of absolute advantage and comparative advantage; demonstrate the link
between comparative advantage and opportunity cost; explain why
people who are good at everything still tend to specialize.
Instruction:
Major topics covered in this course include supply and demand; the data
of macroeconomics including measuring a nation's income and cost of
living; production and growth; saving, investment, and the financial
system; unemployment; the monetary system; inflation; open-economy
macroeconomics; and short-run economic fluctuations. Methods of
instruction include self-study, study guides, texts, and a proctored final
examination.
Credit Recommendation:
In the lower division baccalaureate/associate degree category, 3 semester
hours in Economics or Macroeconomics (4/86) (7/90) (9/95) (12/00)
(6/07).