An analysis of supply and demand in markets for goods and the factors of production as well as an examination of the behaviors of consumers, firms, and governments. Study of various market structures in resource scarcity and price determination in perfect and imperfect competitive markets. Quantitative examination and analysis of concepts that include domestic and global environments, income distribution, price elasticity, and taxation.

Credits: 3
Hours: 3 Class Hours
Note: Satisfies the Civic Education requirements

Course Profile
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:

1. Describe major microeconomic concepts and theories.
2. Apply microeconomic methods economists use to explore social phenomena.