ECON 160 - Principles of Microeconomics

Credits: 4

This is a standard introductory course in microeconomics. It focuses on the way the market system works, emphasizing economic interactions among individuals, business firms, and government. Topics include supply and demand, economic decision making of consumers and firms, social efficiency, competitive, oligopolistic, and monopolistic markets, market failures, and the role of the government in the economy. Issues such as the environment, taxation, and income distribution are addressed. Students may take ECON 160 and 162 in either order they choose. Offered each semester.