This course is designed to give the student the necessary tools to understand microeconomic theory, and microeconomic results and implications as they relate to the interrelationships of the consumer, business and government. Theory of prices and markets, industrial organization, public policy, income distribution, contemporary problems of labor and business and international trade. Primary concentration on the capitalist system and the U.S. economy.
- Compare price and quantity outcomes resulting from shifts in supply and demand.
- Compute and interpret elasticity measures.
- Compute solutions to profit maximization and cost minimization problems of firms.
- Compute solutions to utility maximization problems of households.
- Discuss economic goals, activities, and outcomes of government.
Economics, 21st Edition by Campbell McConnell, Stanley Brue and Sean Flynn ISBN: 9781259723223