Principles of Microeconomics

Catalog description

This course is an introduction to microeconomics. Students will analyze the theory of price in the market system, including supply and demand analysis, marginal utility, marginal revenue and marginal cost concepts, imperfect competition, theory of production, the problem of poverty, and income inequities. The study of the factor market and an overview of the "free market" failures will also be explored. PREREQUISITE: Placement as determined by the college's multiple measures assessment process or completion of a course taught at or above the level of elementary algebra.