May be applied to Area 3.3. A study of the fundamental principles of the operation of the market system the determination of price and profits under competition and monopoly the allocation of resources and the role of government in the economy. May be applied to Area 3.3. The basic course in statistical inference oriented toward the elements of description, testing hypotheses, analysis of variance and simple regression.
Principles are applicable to all social science.
An analysis of aggregate production, employment, income, and price level from different theoretical perspectives. Investigation of the theoretical and historical basis for trade among nations. Study of international financial institutions and practices. Survey of prospects for development of the world's poorer nations. The study of economic concepts and doctrines within the social context of the past and their impact on the development of economic theory and methodology.