Principles of Microeconomics
This course studies issues of economic choice, economic efficiency and social welfare. The course presents theories of consumer and producer behavior and shows how these theories can be used to predict the consequences of individual, business and government actions. Topics covered include opportunity cost; the gains from trade, supply and demand analysis, and price controls; consumer choice; production and cost; product pricing, market structure, monopoly power and government regulation; and resource conservation and pollution. This course is required for economics majors and offered every fall semester.