Course Department: 
Course Frequency: 
Fall, spring
Course Description: 

Economics is the study of the allocation of scarce resources among competing uses. Microeconomics investigates how households and firms make individual and social decisions concerning the allocation of these resources through their interactions in markets.The purpose of this class is to introduce the important topics in this area of economics including supply and demand analysis, production possibility sets, utility and profit maximization, differences in short and long run outcomes, the effect of government intervention, imperfect markets, externalities, and gains from trade. One unit.

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