Discussion of what economics is all about. Provides an overview of how a market economy operates, what it does well, what it may not do so well, and what could be done instead. The concepts of economic analysis are developed and applied to discussing some of the current economic problems the world is facing. Note: (1) This course is designated for students who are not business or economics majors. Students planning to take 2000, 3000 or 4000 level economics courses may have to take Economics 1101 or 1102 in addition to Economics 1001. Look at prerequisites for a particular course to see if 1101 or 1102 is specified. (2) This course can be used to satisfy the university Core Individual and Society (IN) requirement. Although it may be usable towards graduation as a major requirement or university elective, it cannot be used to satisfy any of the university GenEd requirements. See your advisor for further information.