ECN* 102: Principles of Microeconomics

3 Credits
(Formerly ECON 102)
Microeconomics focuses on how the free market system allocates scarce resources and serves to coordinate the activities of producers and consumers. This course will examine how firms and consumers make decisions under conditions of change and uncertainty. Students will learn economic tools and methods used to analyze decision-making. Topics covered will include scarcity and trade-offs, supply and demand analysis, elasticity of demand and supply, opportunity costs, externalities and market failure, marginal analysis, the cost structure of firms, perfect competition, monopolistic competition, oligopoly, monopoly, and comparative advantage in international trade.
Prerequisites: Eligibility for ENG* 101.
Offered: Fall, Spring, Summer
Fulfills General Education - Knowledge of Social Sciences