This course is designed to introduce students to the fundamental problems of scarcity and choice, as well as the determination of prices in individual resource and product markets. Students will be encouraged to apply these principles to current problems. Among the issues discussed will be different economic and market systems, supply and demand, consumer behavior, costs, competition, interest, profit, and government and market failure.
This course aims to give students a basic understanding of the organization, structure, and workings of the macro-economy. In this course, the fundamental concepts required for economic analysis are developed and used to analyze problems and issues of a specific nature.