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Nov 12, 2024
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2020-2021 Academic Catalog [ARCHIVED CATALOG]
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ECON 202 - Principles of Economics-MICRO 3 CR
A study of supply and demand analysis; costs of production; the structure of American industry; resource pricing; and contemporary microeconomic issues that will include labor economics, urban and rural problems, income distribution, antitrust problems, and international economic issues. Lab Fee
Requisites: Next Gen ACCUPLACER® reading score of 244, or at least a grade of C in TSRE 55 .
General Education Requirement: Critical Thinking - General Education Core
Michigan Transfer Agreement Requirement: Social Sciences
Course Learning Outcomes:
- Recognize the importance of economic models.
- Analyze the opportunity cost and how this concept can be applied.
- Use supply and demand analysis to predict changes in price/quantities in markets.
- Determine how elasticity affects consumer demand and firms’ production decisions.
- Apply the relationship between production and costs to determine the profit-maximizing output of firms in different market types.
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