BUS277 Principles of Microeconomics Microeconomics will focus on the decisions of households and business firms. Students will learn to associate the concept of elasticity and the theory of consumer choice to real world experiences. The nature of business firms will be explored. To further understand how business firms make decisions, the student will examine the firm’s production costs and how inputs are transformed into outputs. The any forms of competition and the role of the government in those competitive forms will also be explored. The rules to hire resources will be presented. Microeconomic applications will help students to develop insights into issues ranging from the environment to income distribution to health care to international economics.
Prerequisite: ACT Math 20 or higher or completion of MTH181 Elementary Statistics or permissions of instrtuctor. Sophomore standing is recommended.
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