Microeconomic Principles

Catalog description

Three lecture. Microeconomic topics of market structures, elasticity, price and output determination, and general equilibrium. Students will be able to: define economic vocabulary; examine and explain the structure of the American economic system; analyze and explain the demand cycle and consumer choice and interpret graphical representation; summarize market influences and theories; analyze the impact which world economic policy has had on business growth and development within the USA; discuss how market failure costs the U.S. economy; and explain what factor markets are and discuss how they function. General Education: Social and Behavioral Sciences