Microeconomics introduces the basic concepts of a firm and
production, markets and
market structure. Within different market structures, theories on how firms and labor
interacts will be presented. Other topic will include labor demand/ labor supply, human
capital, poverty and discrimination, and the effects of externalities. As often as possible, class discussion will expand on theoretical topics by relating actual events to the theories presented in the textbook and in class. Students are encouraged to contribute their ideas and opinions on these subjects. The course is divided into four sections. The first section consists of basic economic theory of demand and supply. The second section will consist of measuring elasticity, costs and profits. The third section includes study of perfect competition, monopolistic, and monopolistic competitive firms. The fourth section consists of a study of labor and income distribution, public goods and externalities.
market structure. Within different market structures, theories on how firms and labor
interacts will be presented. Other topic will include labor demand/ labor supply, human
capital, poverty and discrimination, and the effects of externalities. As often as possible, class discussion will expand on theoretical topics by relating actual events to the theories presented in the textbook and in class. Students are encouraged to contribute their ideas and opinions on these subjects. The course is divided into four sections. The first section consists of basic economic theory of demand and supply. The second section will consist of measuring elasticity, costs and profits. The third section includes study of perfect competition, monopolistic, and monopolistic competitive firms. The fourth section consists of a study of labor and income distribution, public goods and externalities.