May 21, 2024  
2021-22 Catalog 
    
2021-22 Catalog [ARCHIVED CATALOG]

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ECON& 201 - Microeconomics


5 CR

Investigates the responses of individual economic agents to incentives. This course provides the framework for analyzing simple models of choices for individual markets and industries within a mixed economy. The structure and outcomes of the basic model can then be modified to analyze a variety of market structures and be used to address a range of social issues, using the common policy goals of efficiency and equity.

Recommended: MATH 099  or higher, and ENGL 101  or higher.
Course Outcomes
  • Apply the theory of rational choice to explain individual behavior.
  • Explain how markets allocate, produce, and distribute society’s resources.
  • Predict how government intervention impacts market outcomes.
  • Critique market outcomes and government policies using concepts of efficiency and equity.
  • Explain firm behavior under various degrees of competition.
  • Extend the market framework to analyze market failures.
  • Critically analyze the positive and negative impacts of markets as they relate to social justice and environmental issues.
  • Represent and understand economic concepts and outcomes in numerical and graphical form.

 


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