Course ECON101: Microeconomics
Microeconomics focuses on analyzing the manner in which markets resolve the problem posed by a scarcity of resources. Students in this course will construct a model of market efficiency and analyze it through the topics of demand, supply, production, distribution, consumer choice, behavior of the firm, and market structure. The course also considers market failures, the role of government in a market-driven society, and a brief look at international trade and finance.
Prerequisites: There are no prerequisites to take Microeconomics.
Microeconomics Course Objectives:
After completing this course, students will be able to:
- Identify and apply relevant terminology and concepts to economic issues and problems.
- Compare and contrast the market system of economics with other systems.
- Analyze the public and private sectors of the U.S. economy.
- Use demand and supply models in the analysis of real-world issues.
- Use the theory of consumer choice to explain and to predict consumer behavior.
- Use market structure models to explain and to predict business firm behavior.
- Explain the basis for and the benefits of trade.
No Author Provided. Principles of Microeconomics, Saylor Academy, n.d. No ISBN (provided as e-text in course)