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ECON C2001 — Principles of Microeconomics

3 credits · 3 hours

An introductory course using microeconomic models to understand individual decisions by consumers and firms, market outcomes including market failure, elasticity, market structures, labor markets, inequality, and the impact of government policies. Part 2 Introduces the student to the functioning of the market mechanism, its strengths and weaknesses, and to the role of the consumer and the producer in the modern global economy. Examines the behavior of the consumer, and that of the profit-maximizing firm in regard to cost, price and output, within varying levels of competition, and government regulations.

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