Principles of Economics

Catalog description

This course introduces a broad range of micro and macroeconomic concepts, theories, and analytical techniques. Microeconomics components in the analysis of choices made by individual decision-making units (households and firms), will examine the concept of scarcity, opportunity cost, gains from trade, supply and demand, elasticities, and various models of competition. Macroeconomics components will examine determinants of large-scale economic factors, such as national production, employment, inflation, and interest rates, and the role of government policy on a modern market economy (Offered Fall and Spring) Credit: 4.