ECON 202 - Principles of Econ/Microecon

Institution:

Point Park University

Subject:

ECONOMICS

Description:

This course provides the foundational principles for economic transactions and establishment of value in both national and international markets, such as the world oil market, and other markets involving natural resources, industries, and services, which are all of paramount importance to our country and the world. Microeconomics is a core component of financial literacy, providing key insights into an individual and/or organization's ability to succeed in a world that is becoming more integrated and competitive every day. Thus, a variety of market forms will be discussed ranging from perfectly competitive markets to monopolies and oligopolies. The role of government in the market place will also be analyzed. Course Objectives Upon successful completion of the course, students will be able to: (1) Analyze the microeconomic foundations of the US market economy, including the resources and technology we have available to face national and global challenges. (2) Describe and define the role of demand and supply, as well as the price mechanism and its effects in determining a firm's behavior under competitive and non-competitive conditions, especially in a more globalized environment. (3) Find and critically analyze articles from academic journals, other primary sources of information such as professional publications, and periodicals in economics in order to examine the role of government in the market system, including the labor market and the market for natural resources, which are significantly affected by world events such as globalization and wars. (4) Explain microeconomic principles from both the theoretical and policy perspectives, including the "optimal" allocation of national resources taking into account the opportunity cost in activities such as education, health care and national defense.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.pointpark.edu

Phone Number:

(412) 391-4100

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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