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Jan 30, 2025
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ECO 111 - Principles of Microeconomics Analysis of behavior of individual economic units such as households and firms, pricing of goods and services under different market structures and applications to real-world microeconomic phenomena. Fulfills: LASR. (3 cr. hr.)
Frequency code A = offered every semester
Student Learning Outcomes
Upon successful completion of this course, students will be able to:
- Utilize theory, mathematical, and graphical tools to analyze how an individual maximizes utility and a firm profit maximizes in different market structures.
- Demonstrate how market equilibriums of price and quantity are determined through the interaction of demand and supply
- Measure different types of elasticities and discuss how they relate to economic agents' decision-making process
- Interpret how economic agents are affected by changes in tax policy or other exogenous forces in the market.
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