ECON& 201 Microeconomics • 5 Cr.
Department
Division
Description:
Investigates the responses of individual economic agents to incentives. This course provides the framework for analyzing simple models of choices for individual markets and industries within a mixed economy. The structure and outcomes of the basic model can then be modified to analyze a variety of market structures and be used to address a range of social issues, using the common policy goals of efficiency and equity. Prerequisite: English 101 and Math 138 (or higher), both with a grade of C or better.
Outcomes:
After completing this class, students should be able to:
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Apply the theory of rational choice to explain individual behavior.
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Explain how markets allocate, produce, and distribute society’s resources.
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Predict how government intervention impacts market outcomes.
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Critique market outcomes and government policies using concepts of efficiency and equity.
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Explain firm behavior under various degrees of competition.
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Extend the market framework to analyze market failures.
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Critically analyze the positive and negative impacts of markets as they relate to social justice and environmental issues.
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Represent and understand economic concepts and outcomes in numerical and graphical form.
Offered:
- Fall 2013
- Summer 2013 (current quarter)
- Spring 2013
- Winter 2013
