EC 201 - Introduction to MIcroeconomics

Lecture Hours: 4
Credit Hours: 4

Introduces microeconomic theories of how a capitalist society operates. Covers the concepts of commodity production, price elasticity, revenue, production and cost, profit, marginal analysis, competitive and imperfectly competitive markets, market power, antitrust, externalities and other market failures, (de)regulation of business, pecuniary emulation, conspicuous consumption, income distribution, poverty, and labor (factor) markets.

Prerequisite: Placement into WR 115 (or higher), or completion of WR 090 (or higher); and completion of MTH 095 (or higher); or consent of instructor. (All prerequisite courses must be completed with a grade of C or better.)