ECO 2020 - Principles of Microeconomics

3(3 + 0)

Prerequisite: Either ENG 1010 or the Level I Communications course; and satisfaction of the Level I Mathematics Requirement, or MTH 1120, or MTH 1320, or MTH 1400, or MTH 1410

An introduction to the principles of economics with an emphasis on individual economic units. Topics include: supply and demand - market outcomes and the impact of government interventions; consumer choice; production theory and economic costs, the theory of the firm; competition and monopoly; resource markets and factor prices; and the role of government in a market economy – the legal framework and property rights, economic efficiency, and competition policy, externalities and environmental protection, provision of public goods, and distribution of income and wealth.(General Studies—Level II, Social Sciences)(GT-SS1)