Title: Principles of Microeconomics ECON 111
Department: Finance and Economics
Course Prerequisite(s): MATH119
Credit Hours: 3 hours
This course focuses on basic microeconomic concepts such as supply and demand, market equilibrium, the concept of elasticity, consumer choice, utility, production and costs, the theory of perfect competition, monopoly and monopolistic competition.
1. To understand the fundamentals of economics.
2. To analyze the fundamental concepts of supply and demand, and market price determination.
3. To study the basics of product markets.
4. To examine alternative market structures.
5. To apply some analytical and critical thinking tools used by economists.
6. To relate the information discussed in the course to the current economic situation.