ECO 251 Principles of Microeconomics

Lecture: 3 Lab: 0 Clinic: 0 Credits: 3

This course introduces economic analysis of individual, business, and industry in the market economy. Topics include the price mechanism, supply and demand, optimizing economic behavior, costs and revenue, market structures, factor markets, income distribution, market failure, and government intervention. Upon completion, students should be able to identify and evaluate consumer and business alternatives in order to efficiently achieve economic objectives.

This course has been approved for transfer under the CAA as a general education course in Social/Behavioral Sciences. This is a Universal General Education Transfer Component (UGETC) course.

Pre-requisite(s): ENG-002 (P2 grade) or ENG 025 and MAT-003 (P2 Grade) or MAT 025
Course is typically offered in Fall, Spring, Summer
Student Learning Outcomes (SLOs)
At completion of the course, the student should be able to do the following:

Apply the tools of economic analysis to decision making.
Demonstrate the changes in market equilibrium due to changes in demand and supply.
Identify the conditions that lead to efficient market outcomes.
Analyze different market structures.