EC-101 Applied Microeconomics
This course introduces students to foundational principles of microeconomic theory, with an emphasis on applications of concepts to management decision-making in specific industry and market settings. It describes and analyzes the interaction of supply and demand and the behavior of the prices of goods and services. It explains the determinations of costs, output, strategic pricing, cost-benefit analysis, and governance by firms under conditions of perfect and imperfect competition in a global economy. In addition, it describes the supply demand for factors of production and the impact of taxes and government regulation and intervention on firms and consumers.
Prerequisite
Student has completed or is in process of completing 15 Credits