This course provides students with knowledge of economic models that include consumer demand, supply, prices, wages, employment, and the role of market structures in making decisions about what to buy, sell, price, and pay in a business environment.
The course begins with the concepts of opportunity costs and tradeoffs, and then proceeds to a consideration of how different types of economies determine which goods and services to produce, how to produce them, and to whom to distribute them.
Other course topics will include the theory of markets, price determination, and the economic theory of the firm in a global economy. The features and elements of competitive and imperfectly competitive markets are compared. Finally, the course examines the causes of income inequality and the trade-off between income equality and economic efficiency.
Current Size: 100%
