Principles of Microeconomics

Catalog description

GE-Social Science This course introduces students to economic concepts, relationships, and institutions related to individual and firm decision-making. Supply, demand, and opportunity cost are used to analyze the actions of individuals and firms in a market framework. Topics covered include marginal analysis, production possibilities, elasticity, household and consumer choice, firm production and costs, profit maximization, input markets, and market structures. This course must be taken by all business majors to fulfill one GE Social Science requirement ( ECON 23010 may not be substituted), and a grade of C or better must earned; any student majoring in a business discipline who does not earn a grade of C or better will be required to repeat the course and earn a minimum grade of C in order to continue in the business degree program. Fee Information: Lab fee may be required. Prerequisite: MTH 14100 , MTH 14200 , MTH 15100 , MTH 15200 , MTH 17500 , MTH 24100 , MTH 27100 , or MTH 27200 with a C or better.