Studies the behavior and interaction of fundamental decision-making units in an economy, especially consumers and business fi rms. Applies such economic principles as scarcity, supply and demand, and elasticity to a variety of social issues. Topics include the resource allocation problems of households and business fi rms, economic theories of social problems (such as crime, divorce, and discrimination), and the economic implications of government policies aff ecting the environment, the workplace, and industrial organization. No credit for students who have received credit for ECON 402. Group 7. 4 cr.

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