Contemporary Microeconomic Principles

Catalog description

The objective of this course is to provide students an introduction to contemporary microeconomics and the methodology and logic that comprises microeconomic theory. Microeconomic theory is used to explore individual decision making, the distribution of resources in market economies, the limitations of the market economy, and related contemporary social problems. Topics include the effects of different market structures on product price and output, determinants of demand for labor and other resources, government regulation, economic determinants of income inequality, international trade, pollution, poverty; and farm subsidies.