Students will examine principles of supply and demand with an applied analysis of consumer demand, sensitivity to price changes (elasticity), and utility. Using cost and revenue information, students will demonstrate the theoretical market of perfect competition and monopolies along with realistic alternative markets like monopolistic competition and oligopolies. Students will recognize the role of comparative advantage and specialization in international trade. Prerequisite/Corequisite: ENG 1530; Eligibility: MAT 1590 or higher. J fall, spring; C fall, spring; Online occasionally.