This course examines theory of choice and its applications, income and substitution effects of a change in price and the compensated demand curve, production and cost with many variable inputs, theory and models of oligopoly, input markets and the allocation of resources.
ECON 111 + ECON 112
L04 - Ethical Issues in Business Decision
This course introduces the microeconomic policy environment within which
businesses operate. At the completion of this course, students will be familiar
with many of the microeconomic tools that individuals, policy makers and firms
can use to analyze and resolve problems. Some of the uses of those tools that
you will be familiar with:
1. How and what effect decision making process of the individuals,
2. How the firms make production decisions, select strategies and
3. How the behavior of the firms varies under different market structures,
4. The effect of tax policies and tariff policies on individuals and
5. How the government can correct market failures or regulate markets.
In general, students will also see the use of economic theory on real-world
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