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Sample Syllabus

Course:

Principles of Microeconomics

Course Description:

Economics is the study of how people make choices due to scarcity of resources. This class will focus on the market system of economic choice. We will analyze how individuals, or relatively small groups of individuals, involved in the market system make choices and how society's economic activities are organized. We will also investigate how government policy impacts market outcomes. The general objective of the course is to provide you with analytical tools to apply to microeconomic problems that you will encounter every day.

Learning Objectives:

At the end of the course, you will be able to:

  1. Define and identify in context important economic concepts such as opportunity cost, comparative advantage, market equilibrium, efficiency, elasticity, and externality.
  2. Identify the equilibrium of the supply and demand model and show how economic changes affect the equilibrium.
  3. Explain the impact price controls, taxes, and subsidies have on a market.
  4. Distinguish among the four major types of industrial market structures.