ECON 2200 Principles of Microeconomics

3 (3 lecture hours) Credit Hour(s)

This course introduces and explores a variety of microeconomic topics, including supply, demand, and market equilibrium; labor & financial markets; elasticity; production cost; various market structures; and externalities.

General Education Learning Outcomes (TBR Approved)

Recognize, describe, and explain social institutions, structures, and processes occurring within a complex global and diverse society.
Think critically about how individuals are influenced by social institutions in their own and other diverse cultures.
Investigate the relationship between individuals and societies as it affects personal behaviors, social development, and quality of life of individuals, families, and communities.
Gather, analyze, and present research data perceptively and objectively using appropriate principles, methods, and technologies for the purpose of drawing logical conclusions on human behavior.

Student Learning Outcomes:
Upon completion of this course, students should be able to:

Interpret supply and demand models.
Analyze the behavior of individual firms in various markets.
Differentiate how cost and profit are determined in the short-run and long-run.
Recognize how barriers to entry determine how markets are defined.
Contrast the elasticity of both supply and demand.

Prerequisite(s): ENGL 0810 and READ 0810 or equivalent.