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Nov 23, 2024
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ECON 2213 - Microeconomics* 3 Credits
Continues Macroeconomics with emphasis on the microeconomic topics of theories of consumer behavior; cost and price; and production, consumption and distribution of goods between consumers, producers, and resource suppliers in market models of pure competition and imperfectly competitive markets.
Course Level Objectives
Upon successful completion of this course, the student will be able to:
1. Demonstrate an understanding of general economic theories-both historic and current-that influence local and regional economic analysis. (GEO 1, 3)
2. Describe the basic economic principles that govern basic supply and demand, elasticity, and factors in production costs. (GEO 1, 3)
3. Identify the various market structures, including competitive markets, monopolies, and oligopolies. (GEO 3)
4. Discuss government regulatory policies regarding markets, environmental issues, and farm subsidies. (GEO 1, 3)
5. Explain Factor Markets and the role of labor, labor unions, and financial markets in the economic system. (GEO 1,3)
6. Describe patterns of wealth distribution in society from taxes, social program, etc. (GEO 1, 3)
7. Identify how global trade and international finance impacts local and regional economies. (GEO 2. 3, 4)
ACTS Equivalent Course Number: ECON 2203
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