Examines how consumers and firms make choices when facing scarce resources, and how those choices are related to government policy and market outcomes, such as prices and output.
Course Outcomes
Upon successful completion, students will be able to:
- Articulate the concepts of opportunity costs and trade-offs.
- Explain producer and consumer behavior using economic models.
- Analyze the relationship between supply and demand and its applications across various economic contexts.
- Identify the impact of market failures and government policy on efficiency and welfare.
Prerequisites
Equivalent placement test scores also accepted.
Co-Requisite Courses
Additional Information
This course fulfills the following GE requirements: Social Sciences/ASOT-B, Social Sciences/AAS, Social Sciences/AGS, Social Sciences/AS, Social Sciences/AAOT.