Business Economics

Catalog description

Students in this course will describe how both micro and macro-economic conditions affect business decision-making and apply the concepts of comparative advantage, opportunity costs, and scarcity of resources for decision-making. Students will assess the market economy's pricing system and the theory of supply and demand, identify the major costs of a business, and apply various models of market structure to the analysis of market conditions. Students will integrate the effects of globalization and international trade on the U.S. and global economies from a Christian worldview.