Collegewide Objectives

The student will be able to:

1. Discuss concepts of supply and demand as they impact price theory.
2. Describe market structure including different forms of competition.
3. Analyze the factors surrounding the concept of price elasticity.
4. Analyze cost productivity in the distribution of profit and discuss its effect on social issues.
5. Describe and evaluate theories of consumer choice.

GENERAL TOPIC AREAS

1. Introduction to Micro Economics
2. Consumer Choice and Marginal Utility
3. The Concept of Demand Side Microeconomics
4. Producer Choice and the Law of Diminishing Returns
5. The Concept of Supply Side Microeconomics
6. Integration of Demand and Supply Principles in Product Markets
7. Firms in Perfect Competition
8. Firms in Imperfect Competition
9. Labor Markets and Collective Bargaining
10. Capital Markets