ECON 1020 Microeconomics

Active citizens should have an understanding of economic principles. Microeconomics is the branch of economics that examines human behavior and choices as they relate to relatively small economic units- the individual, a firm, an industry, or a single market. The focus in this foundation course will be on how individuals and societies address the fundamental economic problem of scarcity. Students will use the process of economic reasoning to explore decision-making of economic units; supply, demand and resource allocation; analysis of various market and industry structures; shortages, surpluses, social costs and benefits; international trade; and comparative systems. Prerequisite: Completion of MATH 0920 or test into MATH 0930 or higher.(3 lect.) SOC


3 credits

Transfer Status

Equivalent to UW.