ECON 2200 - Principles of Microeconomics

3 sem hrs cr

This course is a study of basic economic concepts and microeconomics. Topics covered include consumer and firm behavior, economic growth, market structures, price and output determination, labor and unions, international trade and finance. Prerequisite: Exemption from or completion of READ 0810  

In rare and unusual circumstances, a course prerequisite can be overridden with the permission of the Department Lead for the discipline.

This course may include proctored exams which must be completed on campus or at an instructor approved proctoring center which may require additional costs to the student. Please consult your instructor for additional details.

  Formerly/Same As (ECON 2020)

Transfer (UT) or Non-Transfer Course (UN): UT

By the end of the course, students will be able to…

• recognize and explain the significance of economics as an academic discipline and how it relates to the social interactions between individuals, institutions, structures, and processes in a diverse society.
• analyze and communicate the methodology, values, and processes that are used to formulate general economic theories regarding the social context of individuals and institutional behavior.
• define and discuss different economic systems existing in the world and how those systems interact and affect the political, economic, cultural, and social behavior of the different societies.
• appraise the relationship and behavioral interaction between the different economic players and the impact that interaction has on social development and the quality of life for individuals, families, and communities.
• analyze the microeconomic ramifications and impact of marketplace activities on the social behavior, social development, and the general quality of life for all persons.
• discuss the macroeconomic relationships existing between individuals, households, businesses, and governmental institutions and the impact those relationships have on personal and social behavior.
• critically analyze the microeconomic functions of government and the impact it has on personal and social development and the general quality of life for all persons.
• express an understanding of fundamental economic concepts associated with recognizing and appreciating the cultural diversity of the society in which they live and how those concepts are influenced and impacted by a global culture.
• recognize and describe basic microeconomic theory and pursuant policy-making processes to help formulate their personal views and opinions concerning existing and/or proposed social and behavioral state of affairs.