Honors Introduction to Economics

Catalog description

For Honors students. This introductory course develops the basic tools and methods of microeconomic and macroeconomic analysis. The choices of individual decision makers are analyzed in studying how markets operate. The fundamentals of supply and demand, consumer and firm behavior, and market interactions are examined. Applications to current microeconomic issues are discussed in the course, for example, the role of government in markets. Issues of employment and unemployment, inflation, the level of output and its growth, and other important current policy problems are examined within the framework of models that economists use. The main area of current applications will be the United States economy, but attention will also be given to international economic issues.