ECN 143 - Principles of Microeconomics

Institution:

University of Alabama in Huntsville

Subject:

Description:

Comprehensive coverage of individual market functioning, beginning with scarcity and the economizing problem, supply and demand are defined, and their non-price determinants presented along with obtainment of equilibrium price and quantity. The concept of elasticity is introduced and its measurement and interpretation in a variety of applications is demonstrated. Theories underlying demand and supply, utility maximization, and the production-cost relationship are developed. The firm's profit maximizing behavior is analyzed and applied to various demand conditions, market structures. Market functioning for each classification of resource is presented along with their implications for income distribution. Functioning of international markets and resulting exchange rate determination. Prerequisite: MA 004.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.uah.edu

Phone Number:

(256) 824-6120

Regional Accreditation:

Southern Association of Colleges and Schools

Calendar System:

Semester

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