This course introduces students to the basic principles of microeconomics, including the nature and method of economics and the role of the private and government sectors.
Emphasis is placed on the firm, market structures, and resource allocation.
Students in this course learn the basic principles of macroeconomics, including national income accounting, business cycles, income determination, and monetary and fiscal problems and policy. Also considered is international economics, including trade, comparative advantage theory, balance of payments, exchange rates, and trade and finance problems and policy. The course objectives are to increase the student's knowledge and interest in the economic consequences of social issues and to provide the student with the basic analytical skills needed to assess social problems from an economics perspective. Students will learn how to determine the appropriate economic principles which, when applied, might bring about the reduction or resolution of particular social issues. This course examines macroeconomics concepts and problems.