UCA Core lower division elective in the Social Sciences area and required course of all business majors, economics majors, economics minors, financial services minor, and actuarial studies minors. The mode of instruction is class lecture and discussion. The course is half of the disciplinary core in economics, designed for students who will need competence in employing the tools of economic analysis within their major studies and in subsequent careers. It is a study of markets, resource allocation, consumer and producer behavior, production, costs, market structure, and the role of government in markets. Tools of microeconomics analysis. [ACTS: ECON2203]