EC 202 - Principles of Microeconomics

Institution:

Widener University-Delaware Campus

Subject:

Description:

An introductory study of the operations of output (product) and input (resource) markets as they relate to demand and supply decisions by households, businesses, government, and the rest of the world (foreign trade patterns). Attention centers on the role of prices in allocating scarce resources among competing users, as well as on imperfections in and failures of markets to effectively allocate such resources. Among the topics covered are an introduction to economizing problems and issues, market systems and demand and supply analysis, consumer behavior and product demand, production functions and costs, output pricing under various market structures, input pricing under various market structures with special emphasis on labor markets, and demand and supply determinants of international trade patterns. This course may be used to satisfy the social science general education distribution requirement. Prerequisite: 30 semester hours.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.widener.edu

Phone Number:

(302) 477-2100

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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