ECON 102 - Principles of Microeconomics

Credits: 3

Description
An examination of the price theory for product market models and consumer demand models with attention focused on the application of price theory in current economic issues.

Student Learning Outcomes

Analyze scarcity and opportunity cost.
Manipulate graphical representations to illustrate the determinants of supply and demand.
Predict and demonstrate the consequences of price controls.
Apply the concept of elasticity.
Recognize and apply marginal analysis in its role in decision making.
Employ graphical representations of cost and revenue structures to address inferences formed within a model of profit maximization.

Prerequisite: MATH 124 or higher with a grade of C or higher