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Nov 23, 2024
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ECON 111 - Principles of Microeconomics
Prerequisites: None
An introduction to the modern market economy as a system of dealing with the problem of scarcity and choices made by individuals and businesses. Topics include resource allocation, price mechanism, supply and demand, optimizing economic behavior, costs and revenue, various market structures, market failure, government intervention and comparative advantage. The basic tools of microeconomic analysis will be applied to topics of current interest such as minimum wage legislation and competition policy.
3 credits
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