ECON 103 - Introduction to Economics

Credits 3
This course acquaints students with working knowledge of micro- and macro-economic topics. Topics generally include supply, demand and equilibrium; opportunity cost and scarcity; consumer theory; costs and profit maximization by firms; competition; effects of government policies such as price ceilings, price floors and taxes; and the way various markets operate. Students will also have an understanding of the operations and institutions of economic systems and explores various economic issues and problems.