ECON& 201 - Microeconomics

Credits 5
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.

Course Outcomes

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