AVI180 - Economics - Aviation

Outline info
Last revision date 2017-11-21 10:45:28.146
Last review date 2017-11-21 10:45:30.757

Subject Title
Economics - Aviation

Subject Description
This subject introduces the basic principles of economics including current and emerging social and economic problems and their application to the aviation industry.

Credit Status
One credit toward the Commercial Pilot Training Certificate

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

1. Demonstrate an understanding of the principles of Canadian microeconomics

2. Apply basic economics theory to the aviation industry

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

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 student.conduct@senecacollege.ca.

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 Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.


Topic Outline

  • The economy and economics
  • History of economics
  • More about economics - graphs and theories
  • The individual and interactions between individuals
  • Specialization and trade 
  • The market - demand and supply
  • Competitive pressures - monopoly, oligopoly, imperfect and perfect competition
  • The problem of choice - bringing everything down to costs and benefits (marginal analysis)
  • The organization and costs of production
  • Technology, R&D and efficiency
  • Full production
  • Basic introduction to macro economics 

Mode of Instruction
Lectures, discussions and A.V. support

Prescribed Texts
Microeconomics, Campbell McConnell, Stanley Brue, Sean Flynn, Tom Barbiero, Latest Edition of Canadian Edition w/ Connect Access Card, McGraw Hill Ryerson, Toronto ISBN# 9780077337735

Economics on the World Wide Web

Statistics Canada                            www.statcan.ca
Canadian Economic Association    www.economics.ca
Bank of Canada                              www.bank.banque-canada.ca
Environment Canada                      www.ec.gc.ca
Revenue Canada                            www.rc.gc.ca

Reference Material

Required Supplies

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.

Modes of Evaluation
Since this is a professional credit subject, marking standards reinforce professional practice by demanding legible, tidy work. Assignments should be well organized and grammatically correct, with proper spelling and punctuation. Late assignments are penalized. For particulars, please obtain standards, dated, etc. from your instructor. 

While attendance and participation in class discussions are not formally part of this evaluation schedule, you should be aware that absenteeism will almost guarantee your inability to achieve satisfactory grades. Some of the progress tests and quizzes may not be announced in advance and details of assignment requirements may be explained in class. There is no formal provision for make-up tests to replace tests you miss.

To attain a passing grade for the subject, a student must complete and obtain a passing grade on all combined assignments and tests.  For further information on evaluation and academic standing, see a copy of Academic Policy.

Grading is based on the following marking scheme:

Term Assignment 20%
Term test(s) 40%
Presentation 10%
Final examination 30% * designated final

Approved by: Denis Gravelle