ECN 101 Introductory Economics (Micro) (3 credits)

By analyzing the behavior of buyers and sellers in product and factor markets, this course explains how a market economy determines how scarce resources are allocated to the production and distribution of various goods and services. Supply-and-demand models are used to explain the determination of the prices of products and of factor inputs, and the consequences of government controls and of different types of market structures on prices, wages, and economic efficiency are analyzed.