ECON& 201 Micro Economics

5 credits

This course meets the Social Science  general education distribution requirement.

Prerequisites: MATH 98  or MATH 99  (or placement into any college-level, transferable MATH/MATH& course) and ENGL 99  (or placement into ENGL& 101  or higher)

Course Outcomes
Upon successful completion of this course students will be able to:

• Evaluate economic examples as related to personal incentives and voluntary exchanges
• Explain the concept of opportunity cost
• Define how traditional, command, and market forces affect the production and distribution of goods and services in a market economy and identify and analyze the interaction among these forces
• Use economic reasoning, principles, and models to identify the possible causes and evaluate possible solutions for current microeconomic issues, such as productivity growth, wage differentials, and poverty
• Compare and contrast the major traditions of economic thought as they apply to microeconomic theory and policy, in particular to the role of government in the market system.
• Identify and explain the major forces impacting the distribution of income and wealth in modern U.S. capitalism, including the impact of discrimination
• Identify and describe situations where market outcomes are socially undesirable, analyze the causes of market failure, and compare and contrast alternative remedies
• Use graphical representations and economic models
• Evaluate newspaper articles dealing with micro-economic issues 

• Explain at least one social science theory
• Analyze social issues and problems in the context of social science