General introduction to microeconomics as applied to individuals and firms and to macroeconomics as applied to the operation of the economy as a whole. Course topics include economic decision making, economic systems, supply and demand models, price determination, elasticity, household income, business ownership, profit maximization, production functions and costs, and competition and market structures. Also includes goals and problems of the macro economy such as fiscal policy and budgets, the role of financial institutions, money creation, and monetary theory and policy.
Focuses on micro-economic theory dealing with the behavior of individuals and profit-maximizing firms in market structures with varying degrees of completion. Coverage includes price theory, international trade, consumer behavior, the theory of the firm, and the potential role of government in affecting market outcomes.
Introduction to economic theory, policy, and institutions. Focuses on macro-economic theory, scarcity, production, money, unemployment, inflation, and international finance.