An introduction to basic economic ideas and their application to current issues. Topics include comparative economic systems, consumption, production, the change of economic ideas over time and related sociopolitical economy. Current economic topics are used to illustrate the theories. An examination of economic behavior of households, firms, and industries in both product and resource markets. Current economic topics are used to illustrate the theories.
Special focus is on the relationship between the consequences of human action and the environment.
Attention is given to the sources of environmental problems with an emphasis on public policy attempts to resolve these problems. An analysis of factors determining the level of income and employment as well as the rate of inflation and growth. The use of monetary and fiscal policy for stabilizing the economy and for accelerating growth is also addressed. General equilibrium and welfare economics are also discussed. The course is an introduction to the analytic methods of operation research.