ECON 201 - Principles of Economics: Introduction to Microeconomics
Second term of a three-term sequence in principles of economics. A study of basic microeconomics including elasticity, profits the operations of the four market structures, government policies toward business, and resource markets.
Prerequisite: ECON 200 or ECON 202 . Recommended: MTH 111 and one year of college coursework completed
Upon successful completion of this course, the student will be able to:
1. Apply analytical skills to social phenomena in order to understand human behavior: Continue to recognize and analyze microeconomic frontiers explored in Econ 200. Emphasize both explicit and implicit costs in the context of readily identifiable (and measurable) costs. Also acquire and hone skills necessary to analyze those less easily quantifiable costs of decision making inherent to the human experience
2. Apply knowledge and experience to foster personal growth and better appreciate the diverse social world in which we live: Appreciate the wide array of motivations that drive an individual, corporate, and/or social construct to maximize profit. Continue to analyze what it means to think economically" and how that results in divergent and sometimes contradictory policy dependent upon the social context and parameters within which issues arise. Begin to learn to apply these economic methodologies on an individual as well as societal basis
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