An introduction to economics with special emphasis on microeconomic concepts. First course in the Business Administration and Economics majors sequence. Major topics include aggregate demand and supply, money, employment, economic growth, monetary and fiscal stabilization policy, national income and product accounts, inflation, and international economics.
Emphasis is placed on applying principles to actual market situations and governmental applications.
Includes the influence of the entrepreneur on the market. 5.0 Quarter Hours Examines the changing role of people in the economic process by studying productivity, wage determination, labor unions, human capital, creation, labor market, discrimination, and related topics. 5.0 Quarter Hours Covers a variety of model processes whereby the so-called lesser developed nations of the world could alleviate their material poverty. Examines economies in Africa, Asia, and Latin America to communicate the enormity and complexity of the task of economic development. Examines international institutions such as cartels, multinational corporations, and common market systems.