A course for students whose curriculum requires only a survey course in economics. Basic microeconomic and macroeconomic principles and their applications to such subjects as competition versus monopoly, the role of government, economic stabilization policies, and international trade and finance. Markets, Prices, and Firms. Economic analysis of prices and market institutions and how they coordinate the actions of diverse individuals in society in the use of resources in production and the exchange of goods and services for consumption. Emphasis on consumer choice and firm choice, cost analysis, pricing and output decisions under various competitive scenarios, as well as non-price competition.
Attention is paid to economic theory, theory application, and empirical analysis.
Economics of Money and Banking. Institutional structure of the U.S. financial system and Federal Reserve regulation. Mechanics, theory, and history of monetary policy. Theory of macroeconomic stabilization and international finance. Environmental and Natural Resource Economics.