Principles of Economics

Catalog description

Credits 3. 3 Lecture Hours. (ECON 2302) Principles of Economics. Examination of how individuals, firms and governments make choices under scarcity and how their interactions shape markets and economic outcomes; emphasizes opportunity cost, marginal reasoning and the determinants of demand and supply; explores how prices, competition and policy affect efficiency; highlights the value of economic reasoning for understanding real-world behavior and guiding sound policy and decision-making; applications may include causes of market and government failures, labor-market outcomes and strategic behavior in business decision-making; also taught at Galveston campus.