-

Catalog description

This course introduces the student to the principles of economics and then examines the major concepts of microeconomics from an analytical standpoint. The course begins with an examination of basic economic principles, including supply and demand and a look at the major economic systems. Additional topics covered in this class include the economic theory of households and firms, the determination of equilibrium prices in various product markets, efficient allocation of resources, and distribution of income. The effects of microeconomic decisions on public policy will also be discussed. [KRSN ECO 1010 Microeconomics].