ECO-8 — Principles of Microeconomics

Prerequisite: MAT-52 or qualifying placement., Advisory: MAT-3.

Description: Economic theory and analysis as applied to consumer and producer behavior in markets. Emphasizes the allocation of resources and the distribution of income through the price mechanism, and deals with the microeconomic concepts of equilibrium in product and factor markets, perfect and imperfect competition, government intervention in the private sector, and international trade and finance. 54 hours lecture. (Letter grade only)