Following an initial introduction to important general economic concepts, including demand and supply, the course examines the U.S. economy from a microeconomic perspective. It includes an analysis of (1) the theory of consumer behavior, (2) elasticity, (3) costs and supply, (4) market structure, (5) anti-trust law and regulation, and (6) factor markets. Prerequisite: MA103 (or ACT Math subscore ≥ 22)
As a result of taking this course, the student will:
- Develop an understanding of the economic approach to looking at the world, especially the notions of scarcity and opportunity cost and the supply and demand model;
- Appreciate how a free-market economic system functions, as well as the benefits and problems that may arise under such a system;
- Apply the tools of economic analysis to a variety of real-world problems and discover the insights they can offer;
- Learn to think like economists.
This course addresses the following competencies required for business majors:
- 5.1: Identify the basic features of economic systems
- 5.2: Describe the role of competitive markets
- 5.3: Describe the role of government in the economy
- 5.5: Explain the function of domestic economic institutions and economic incentives
Syllabus: EC202 Syllabus Spring 2019.doc
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EC 202 Microeconomics
Instructor: David A Dyer
Start Date: 03/18/2019
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