ECO 102 Principles of Microeconomics

Prerequisites: Completion or waiver of MAT 012; first-year or sophomore standing preferred

In this course students will learn: 1) How supply and demand determine prices and quantities in product and input markets. 2) How households make their consumption decisions. 3)How firms determine their output and production process. 4) How different market structures impact output, prices and profits. 5) What are the consequences of market failures and how can the government impact market outcomes. 6) What determines the income distribution. Social Science Perspective.