May 17, 2022  
College Catalog 2021-2022 
College Catalog 2021-2022

ECON& 201 - Microeconomics

5 Credits
Microeconomic concepts are applied to problems involving scarcity, choice, competition, and cost. Examines the basic principles and models of microeconomics and their application to contemporary issues and problems including production, allocation, supply and demand analysis, elasticity, consumer choice, market structures, antitrust and regulation, and public microeconomics.

General education distribution area: Social Science.

Course Outcomes

  1. Explain in detail the concepts of supply, supply determinants, and the elasticities of supply.
  2. Relate the market model of perfect competition.
  3. Demonstrate an in-depth understanding of monopolies.
  4. Apply the concept of scarcity in real-world situations.