EC 201 : Microeconomics

Transcript title

Microeconomics

Credits

4

Grade mode

Standard letter grades

Contact hours total

40

Lecture hours

40

Recommended preparation

or to be taken with WR 121 and MTH 065.

Description

Microeconomics is the study of how individuals and firms make choices in the face of scarcity. This course will build economic intuition about the consequences of our consumption and production decisions. We consider how goods and services are allocated and how market forces such as technology, market power and government intervention shape the setting in which these decisions are made.

Learning outcomes

1. Formulate independent and well-considered conclusions about microeconomic issues and policies.
2. Demonstrate an understanding of the methods and principles of microeconomic theory, including tradeoffs, opportunity costs, incentive effects, gains from exchange, and marginal decision-making.
3. Analyze rational decisions made by individuals within the economy and choice theory using cost benefit analysis.
4. Identify and analyze markets and market structures.

General education/Related instruction lists

  • Discipline Studies/Social Science

Outside of
expected

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