ECO 2501

Description

Emphasis on applications of these principles to current problems. General topics include: Demand and consumer behavior, the firm and market structures, international economic relations, comparative economic systems, and current events with microeconomic content.

Objectives

  1. Recognize resource scarcity as the central economic problem.
  2. Analyze how supply and demand creates the market for goods and services.
  3. Explain how supply and demand elasticity affects consumer decisions.
  4. Analyze the decisions of firms in perfectly competitive markets.
  5. Differentiate between a monopoly, monopolistic competition, and an oligopoly.
  6. Examine the market for resources as it pertains to firms.
  7. Critique the existence and regulation of corporations.
  8. Interpret poverty, pollution, and public versus private goods.

PreRequisites

  1. ECO 2401

Textbook(s)

ECON Micro 3 (Rev: 3)

Publisher: South-Western (2012)
Author: McEachern, W. A.
ISBN: 9781285116341
Price: $65.82

* Disclaimer: Textbooks listed are based on the last open revision of the course. Prior revisions and future revisions may use different textbooks. To verify textbook information, view the course syllabus or contact Student Services at students@waldorf.edu