Principles of Microeconomics

Catalog description

Class Hours: 3 Lab/Discussion: 0 Credits: 3 Prerequisite: None Corequisite: None Restriction: None Description: Applies microeconomic theory to assessing the behavioral outcomes and interactions of households, firms, and public policy decision-makers. Examines both individual- and firm-level decision-making processes using core microeconomic tools, including opportunity cost, marginal benefit-cost analysis, and the supply and demand model. Evaluates the trade-offs inherent in any policy choice or market outcome, and how these trade-offs should be part of one’s ethical evaluation of any market outcome or proposed policy change. Cross-Listed: No