Description
In this course, students examine the decision-making process of both households and firms. Students also analyze the functioning of a competitive market system, supply and demand models, and the role of government in cases of market failure.
Prerequisites
Qualified for ENG 100.
Designation
Diversification: Social Sciences — DS
Course Student Learning Outcomes (CSLOs)
- Utilize the essential principles and relationships in microeconomics to evaluate real world phenomena.
- Evaluate how resource scarcity shapes the decision-making process of both households and firms.
- Calculate and analyze demand, supply, market equilibrium, and the implications of these concepts for real world markets.
- Distinguish between various market structures and weigh their economic and political power.