View Credit Schedule 401. Economic scarcity, supply and demand, the causes of unemployment and inflation, the nature of money and monetary policy, the impact of government taxation and spending, the federal debt, and international money matters. No credit for students who have had ECN 411.
Units of analysis are the individual consumer, the firm, and the industry.
Theory of consumer demand and elasticity, supply and costs of production, theory of the firm under conditions of perfect and imperfect competition, demand for and allocation of economic resources, general equilibrium, and basic principles and institutions of international trade. Not open to students who have had EREC 411. No credit for students who have had ECN 412. ECON 402H is writing intensive. Determination of prices, production, and the distribution of income in noncompetitive situations and in the purely competitive model.