Principles of Micro Economics

Catalog description

This course introduces students to the way in which a free market economic system resolves the basic social questions of what goods and services to produce, how scarce resources are organized to produce these goods, and to whom the goods are distributed once they are produced. Students will explore the components of the market system, supply and demand, and how they interact under conditions ranging from perfect competition to monopoly. Market failures and their remedies are also examined.