EC 103 - Principles of Microeconomics

The primary concerns of microeconomic principles are (a) the manner in which prices of goods and services are determined; (b) the way in which these values determine the distribution of income and wealth; and (c) how prices and other parameters influence individual and business decisions. The implications of different market structures ranging from competitive to monopolistic are explored as is the role of government in market economies. Economic controversies about trade, income inequality, and government regulations are highlighted.

Credits: 3 cr.
Liberal Studies Requirement: Social Science/Organizational Studies